{"id":43179,"date":"2025-02-10T12:30:20","date_gmt":"2025-02-10T12:30:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43179"},"modified":"2025-02-10T12:30:20","modified_gmt":"2025-02-10T12:30:20","slug":"analyst-says-prepare-for-ethereum-price-to-hit-17000-heres-why","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43179","title":{"rendered":"Analyst Says Prepare For Ethereum Price To Hit $17,000, Here\u2019s Why"},"content":{"rendered":"

A crypto analyst has shared a new bold forecast for the Ethereum price<\/a>, predicting that the number one altcoin is on the verge of an explosive rally to $17,000. The analyst has cited past trends to support his bullish projections, highlighting that Ethereum rallies significantly after a decline.<\/p>\n

Ethereum Price Forecast Targets $17,000<\/h2>\n

According to Kiu_Coin, the Ethereum season has just begun, opening up possibilities of price reversals and buying opportunities. Lately, the Ethereum price has been trading sideways<\/a>, experiencing massive declines that the analyst has described as a \u201cshake out.\u201d\u00a0<\/p>\n

His chart shows that Ethereum has recorded a unique pattern of shakeouts over the past years, followed by explosive upward moves. In this context, a shakeout refers to a sudden drop in the price of a cryptocurrency that forces weak players\u200b\u200b in the market to sell their holdings before the price reverses and surges upward<\/a>.\u00a0<\/p>\n

In his price chart, Ethereum experienced a final shakeout<\/a> around 2020, during the previous bull market. This substantial decline was followed by a significant price spike in 2021, marking new ATHs for ETH<\/a>. At the time, the cryptocurrency had skyrocketed by 1,310.6%, recording one of its largest price increases.\u00a0<\/p>\n

The current price is about $2,637, experiencing a shakeout similar to that in 2020. While other altcoins rallied these past few months, the Ethereum price has struggled with volatility and stagnation<\/a>.\u00a0<\/p>\n

This bearish trend or shakeout has led to significant sell-offs by investors. If history is any indication, Kiu_Coin believes that once Ethereum concludes this decline stage and weak hands are removed from the market, the cryptocurrency could experience a bullish breakout to new highs<\/a>.<\/p>\n

Update On ETH Price Analysis<\/h2>\n

The TradingView expert projects an upward move toward the $17,000 price target. This would represent a 732% increase for Ethereum over the next 217 days, seven months from the time of the analysis. Support levels<\/a> around $2,173 and $2,069 have also been marked on the chart, representing price levels that may prevent further decline in ETH.\u00a0\u00a0<\/p>\n

As mentioned earlier, the Ethereum price has been on a severe downtrend<\/a>, failing to meet the market\u2019s expectations as its value drops steadily below the $3,000 mark. While other altcoins have recorded year-to-date increases<\/a>, CoinMarketCap\u2019s data shows that the Ethereum price has only increased by 5% since the beginning of the year.\u00a0<\/p>\n

Over the past month, the cryptocurrency experienced an 18.5% price crash owing to market volatility<\/a> and the sudden decline in Bitcoin\u2019s value. Although ETH struggles to recover from bearish trends, its 24-hour trading volume of $19 billion is up by 20.9%.<\/p>","protected":false},"excerpt":{"rendered":"

A crypto analyst has shared a new bold forecast for the Ethereum price, predicting that the number one altcoin is on the verge of an explosive rally to $17,000. The analyst has cited past trends to support his bullish projections, highlighting that Ethereum rallies significantly after a decline. Ethereum Price Forecast Targets $17,000 According to […]<\/p>\n","protected":false},"author":0,"featured_media":43180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43179"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43179"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/43180"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}