Ethereum News Today: Ethereum Predicted to Reach $10,000 as Analyst Sees Final Bullish Wave

Ethereum has once again captured the attention of the crypto community with a bold prediction: the digital asset could reach $10,000. This forecast comes from Gert Van Lagen, a respected analyst who employs Elliott Wave Theory to support his scenario. The prediction was shared on the social network X (formerly Twitter) on July 18, aligning with a broader trend of altcoin recovery.

Van Lagen's analysis suggests that Ethereum is in the fifth and final bullish wave of its cycle, which began in 2022. According to his interpretation, the asset is currently in wave V, the final sequence of a bullish cycle. This cycle is characterized by an initial bullish impulse (Wave I), a marked correction between 2022 and 2023 (Wave II), a strong recovery with powerful momentum (Wave III), a prolonged sideways consolidation phase (Wave IV), and the current movement, a final push of an expanding diagonal type (Wave V).

Van Lagen notes that Ethereum has recently broken above the upper channel defined by waves III and IV, marking the start of sub-wave A of the fifth wave. He anticipates a slight corrective pullback to form sub-wave B, followed by a final impulse, sub-wave C, which could push Ethereum toward $10,000 if confirmed. This analysis is part of a long-term macro-technical reading starting in 2019 and does not rely on any external fundamental catalyst.

While Van Lagen's analysis is internally consistent, it is not without its challenges. Currently, Ethereum is trading at $3,794, up 1.79% over 24 hours and 21.8% over seven days, which temporarily supports the bullish scenario. However, the transaction volume shows a sharp drop of 46.03%, an indicator often interpreted as a weakening of buyer momentum. This parameter could condition the viability of a movement as ambitious as the one anticipated.

Ethereum's market capitalization, estimated at $441.14 billion, confirms its position as the second-largest crypto asset, with an 11.1% market share. Yet, this relative dominance alone does not guarantee sufficient impetus to sustainably surpass historical highs. During the previous bull run, the asset struggled to consistently break above $4,800. Other structural elements, such as the still unconfirmed absence of a spot Ethereum ETF, regulatory uncertainties in the United States, or the variable performance of the DeFi sector, could act as brakes to a linear progression toward $10,000.

While Elliott Wave Theory offers an appealing and structured reading of Ethereum’s behavior, its application to the real market requires caution. The future evolution of the asset will depend as much on the technical confirmation of the envisaged scenario as on complex exogenous factors, often unpredictable. In this context, the $10,000 target appears less as a certainty and more as a hypothesis conditional upon the convergence of a set of technical, psychological, and economic catalysts.