Ethereum Price Repeats ‘Bullish Megaphone’ Pattern From 2017

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has formed a key technical pattern reminiscent of the one observed in 2017 when the cryptocurrency embarked on a major bull rally. According to a crypto analyst, this pattern, known as the ‘Bullish Megaphone‘, could signal a possible price rise to $10,000 for ETH.

Bullish Megaphone Sets Stage For Ethereum Price Rise To $10,000
A Blockchain and crypto technical analyst, identified as ‘EtherNasyonal,’ on X (formerly Twitter), has that the Ethereum price could soon surpass $10,000. According to the analyst,  currently showcases a historical chart pattern, the Bullish Megaphone, observed during the 2016 to 2017 bull market.
The  is a technical indicator consisting of two higher highs and two lower lows, often indicating a  continuation for a cryptocurrency. This technical pattern is considered bullish when a cryptocurrency’s price breaks above the trend line with increasing volume.Looking at the analyst’s  from 2016 to 2017 and another for 2024 to 2025, the Bullish megaphone pattern has formed in both bull cycles. Moreover, at the end of the key technical pattern in 2017, the Ethereum price skyrocketed to new price levels, surpassing the $1,200 mark by 2018. EtherNasyonal has suggested that as Ethereum repeats this pattern in the current bull market, it could signal a similar massive price surge, with a potential rally above $10,000. As of writing, CoinMarketCap reveals that the  is trading at $3,353, marking a 7.24% surge in the last seven days. At its current price, a  would represent a 198% increase for Ethereum, highlighting a substantial surge in value.(Click on image to enlarge)
The analyst has also noted that altcoins will likely follow Ethereum’s bullish momentum and experience a similar uptrend. This price rally in ETH could further impact the future in the crypto market this bullish cycle.

Is The Altcoin Season Here? Historically, Ethereum has been a significant catalyst or determining factor to the start of the highly anticipated . While  tends to decline significantly around this period after experiencing a remarkable bull run, altcoins typically follow this bullish trajectory, with Ethereum taking the lead as it .MikyBull Crypto, a prominent analyst on X, that the altcoin season for this  has officially begun. For clarity, the altcoin season is after Bitcoin’s consolidation phase, which follows a rally, where smaller-cap cryptocurrencies begin a strong market rally.MikyBull Crypto has optimistically revealed that from late December 2024 to March 2025, investors and the broader crypto market may witness “the real fun” of the altcoin season. This suggests that the altcoin market is expected to embark on a significant rally, with numerous small-cap cryptocurrencies experiencing varying price increases.More By This Author: