Ethereum could be gearing up for a massive rally, according to crypto market analyst Ted Pillows, who points to a long-term bullish pattern that dates back to 2017.
In a recent post, Pillows highlighted Ethereum’s multi-year ascending channel, noting that each cycle’s retest of the lower boundary has historically triggered powerful upside moves. A similar technical setup preceded a 300x rally in 2017 and a 50x gain in 2020. This time, he projects a more modest sixfold increase — one that could still send ETH beyond $10,000.
His forecast accounts for Ethereum’s growing maturity, particularly its $292 billion market cap and increasing institutional interest, which may temper volatility but support steady growth. Other analysts have echoed the $10K target, with Crypto Patel suggesting ETH must reclaim $2,800 to confirm bullish momentum.
For now, ETH remains locked below key resistance levels. After facing two rejections at $2,600 in June, bulls are eyeing a breakout that could open the path toward $4,000 — the cycle peak so far. But technical confirmation is still lacking.
In on-chain activity, Ethereum network fees spiked by 130% over the past week, reaching $10.26 million. Meanwhile, exchange withdrawals surged to $293 million, reflecting investor confidence as more holders shift to self-custody.
At the time of writing, ETH trades at $2,421 with 24-hour gains flat and daily volume down 16%, sitting at $15.23 billion.
