Analyst: Predicting that ETH will break through $10,000 in this cycle, which may initiate a new altcoin season in the future

ChainCatcher news, according to Cointelegraph, the technical pattern of Ethereum indicates that ETH is expected to experience a significant rise, potentially starting a altcoin season in the coming weeks or months. Cryptocurrency analyst Mikybull stated that using Wyckoff technical analysis suggests that the price of Ethereum could break through the $3,200 mark. Several analysts predict that the target price for Ethereum in this cycle is $10,000 and above.

Joao Wedson, founder and CEO of Alphractal, stated in an X post on June 26 that the altcoin season index is signaling opportunities. Over the past 60 days, Bitcoin has outperformed altcoins, and the altcoin season index remains in the green zone below 20%.

This is not "necessarily a bad thing," he believes, "it could be a great opportunity to accumulate while altcoins are still lagging behind." Whenever the index breaks through the 20% mark, it tends to rise rapidly in a short period, often exceeding 80%, at which point the "lagging" altcoins begin to outperform Bitcoin.