Crypto Analyst Shows The Possibility Of The Ethereum Price Reaching $16,000

Ethereum’s bullish momentum has intensified throughout the weekend, with the price climbing above $4,100. This steady recovery follows a strong rebound from the $3,500 region after a crash earlier in the ￰0￱ sentiment, as shown by trading volume and flows on exchanges, has turned optimistic amidst the ￰1￱ that Ethereum’s price action is starting to turn bullish again, a new technical analysis shared by crypto analyst Freedomby40 on the social media platform X suggests that the current rally could be far from over, projecting a possible long-term climb to $16,000. Wave Count Structure Points To A Continuation Phase Freedomby40’s analysis, which is based on the Elliott Wave structure, presents Ethereum as currently positioned in an extended bullish sequence that began forming in late ￰2￱ the technical analysis on X, the analyst noted that Ethereum’s price action looks great for a ￰3￱ Reading: Here’s What Happens To The Ethereum Price If Bullish Momentum Holds His chart shows that the asset has just completed a corrective phase and is entering a renewed impulse wave, with support established between $3,225 and $3,563 at the 0.5 and 0.382 Fibonacci retracement zones, ￰4￱ analyst labels this zone as the ideal accumulation area for the next leg up, consistent with previous cycle structures seen in 2017 and ￰5￱ Elliott Wave projection in his analysis presents a multi-layered confluence of impulse waves extending to the third ￰6￱ illustrates that Ethereum is currently unfolding its fifth major impulse wave in a structure that traces back to ￰7￱ internal structure of this wave sequence also reveals a C wave in motion, which itself contains smaller sub-impulse ￰8￱ that C wave, Ethereum appears to be entering its own fifth sub-wave, which is known to be a decisively bullish ￰9￱ on this setup, the analyst outlined two potential target zones on the chart: a green box representing the realistic price range for this wave cycle and a red box depicting the higher, more extended scenario that could push Ethereum’s market cap into the trillion-dollar ￰10￱ Extensions Predict Targets Of $9,000, $11,000, And $16,000 Freedomby40’s analysis identifies multiple price levels based on Fibonacci extensions from the current price ￰11￱ first price target is at $6,303, which is based on the 1.0 Fibonacci ￰12￱ initial price target will see the Ethereum price break above its current all-time high, but this is the first of ￰13￱ Reading: Institutions Exit Bitcoin In Large Tranches, Ethereum, Solana And XRP See Massive Buy-Ins The next target, the 1.236 extension, is positioned around $9,013.

These two price targets ($6,303 and $9,013) were described by the analyst as very ￰14￱ extensions are at the 1.382 and 1.618 Fibonacci extension levels, corresponding to $11,210 and $16,077, ￰15￱ the time of writing, Ethereum is trading at $4,160, up by 5.2% in the past 24 hours. Freedomby40’s outlook joins a growing list of ultra-bullish Ethereum price forecasts from institutional research desks and top ￰16￱ Chartered Bank recently raised its 2025 price target for Ethereum to $7,500, while projecting a potential long-term path to $25,000 by ￰17￱ image from iStock, chart from ￰18￱