Ethereum Set to Escape Bear Trap? Analysts Eye $10K Price Target

• Ethereum may break out of its downtrend, with analysts predicting a surge beyond $10,000.
• Crypto analysts, Merlijn and Rover see parallels with past bull runs.
• Key resistance at $2,100 could determine ETH’s breakout toward $3,600 and beyond.

Ethereum may be on the verge of breaking out of a prolonged downtrend, with analysts pointing to a potential rally that could push its price beyond $10,000. After months of selling pressure, ETH has been hovering in the low $2,000 range, fueling speculation about a looming trend reversal.

Crypto analyst CryptoGoos recently shared an ETH weekly chart, suggesting that Ethereum might be nearing the end of a bear trap. A bear trap occurs when an asset appears to be in a downward spiral, luring traders into short positions before abruptly reversing. If this pattern holds, ETH could surge past its recent range high of $4,000.

CryptoGoos is not alone in this bullish forecast. Fellow analyst Merlijn The Trader pointed out similarities between ETH’s current trajectory and its 2020 price movement. “Panic turned into a historic rally,” he noted, drawing parallels between ETH’s performance during the COVID-19 crash and its recent struggles following the Bybit hack on March 11.

Market Parallels and a Potential Breakout

Ethereum’s price history seems to be repeating itself. In 2020, ETH collapsed to $90 before soaring past $1,400. Analyst Merlijn’s shared chart suggests that if ETH clears the $4,000 barrier, it could skyrocket toward the $7,500–$10,000 range by 2025.

Another analyst, Crypto Rover, shared insights comparing Bitcoin’s 2020 bull run to Ethereum’s current cycle. Back then, BTC bottomed NEAR $3,900 before rocketing past $60,000. ETH recently found support around $1,600-$1,700, displaying a similar pattern. If history repeats itself, ETH could breach $3,000 before making a run for new all-time highs.

Seasoned crypto commentator Ted reinforced this outlook, pointing out that Ethereum has broken out of its short-term accumulation phase. Since falling from $3,000 to $1,800, ETH has been consolidating. He suggests that sustained trading above $2,000 could trigger a significant price rally.

Ethereum Key Resistance Levels in Focus

Analyst Friedrich emphasized that reclaiming the $2,100 level is critical for Ethereum’s bullish momentum. The daily chart reveals a bottoming pattern, hinting at a potential breakout. If ETH remains above $2,100, a surge toward $3,600 could follow, with higher resistance levels around $2,555 acting as stepping stones.

However, risks remain. If Ethereum fails to hold above $2,100, it could slide back to the $1,600-$1,650 accumulation zone. This level would likely act as a strong support before any renewed recovery attempts.

Despite the recent price swings, technical indicators are flashing bullish signals. Ethereum’s weekly Relative Strength Index (RSI) recently hit a multi-year low, suggesting that a trend reversal may be imminent.

At press time, Ethereum is trading at $2,017, marking a 3.93% gain in the past 24 hours. With analysts eyeing $10,000 as a long-term target, all eyes are on whether ETH can escape the bear trap and make history once again.

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