Ethereum to $10,000? Expert Explains Why ETH’s Latest Dip Could Be the Launchpad

Ethereum is keeping traders on edge after a quiet few weeks. The second-largest crypto broke its all-time high in September but has since cooled off, with prices now around $4,180. Popular analyst Jelle thinks this is just a pause before the next big move.

On the chart, Ethereum recently broke out of a bullish megaphone pattern, a structure that usually signals strength. But instead of surging straight to new highs, ETH pulled back to retest the breakout zone. This kind of “deep retest,” as Jelle calls it, often happens after a major rally.

The key level to watch is the black support line near $4,000. Jelle says ETH can “scare the bulls” with these sharp dips, but the big-picture trend stays bullish as long as daily closes remain above that level.

Why the $10K Target Stands

Despite September’s slow price action, Jelle hasn’t changed his long-term view. His Ethereum chart shows a clean breakout and healthy consolidation. As long as ETH holds above support, the next leg higher could target $10,000 – more than double today’s price.

Source: X/@CryptoJelleNL

This target comes from the size of the megaphone pattern and Ethereum’s strong fundamentals, including growing staking activity and the continued rise of DeFi and layer-2 networks. In past cycles, ETH has also spent weeks consolidating after an all-time high before exploding higher.

What’s Next for Ethereum

For now, the market is watching whether ETH can hold its new floor. A decisive close below $4,000 would weaken the bullish case and could trigger a deeper correction. But holding this level – or bouncing strongly – would confirm that the breakout remains intact.

If that happens, a run toward $6,000–$7,000 in the coming months would be a natural next step, with $10,000 still on the table for this cycle.

Ethereum may be moving slowly after September’s big milestone, but according to Jelle’s analysis, the bigger trend is alive and well. As he puts it, ETH “loves to scare the bulls,” and this current pullback might be just that – a shakeout before the next major rally.

Read also: SUI Outpaces Solana, BNB, and Avalanche in Stablecoin Flow: Here’s Why It Matters

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