Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Ethereum remains one of the most controversial tokens in the present market cycle, considering its status as the second-largest cryptocurrency and largest altcoin by market cap. Notably, several analysts have consistently backed ETH to reach a five-digit price mark this cycle based on varying ￰0￱ analyst Ted Pillows has now shared a new historical perspective that supports this general bullish ￰1￱ Reading: Bitmine’s Ethereum Appetite Grows With Fresh $70 Million Buy Short-Term ETH Correction To Precede Major $10,000 Rally – Analyst In an X post on September 20, Pillows shared a technical analysis of the ETH market, which shows that the altcoin is consolidating just below its 2021 all-time high (ATH), indicating a price behavior that is potentially bullish based on historical ￰2￱ trading just below $4,500, Ethereum has been unable to hold decisively above its previous cycle peak of $4,878 set in November 2021.

However, the present consolidation mirrors a similar setup from the last bull ￰3￱ 2021, ETH experienced a sharp 25% correction after retesting the 2017 ATH of $1,400, before resuming its meteoric climb to new highs above $4,800. In applying this pattern to today’s market, Ted Pillows states a comparable correction would send ETH back toward the $3,700–$3,800 ￰4￱ such a price decline may unsettle short-term traders, the Pillows’ analysis suggests it is a necessary reset before Ethereum can stage a ￰5￱ this corrective phase plays out, the market expert projects Ethereum to embark on a powerful rally to potentially reach $10,000 by early 2026, representing a potential 100% gain from current market ￰6￱ Reading: X Blows The Lid Off Bribe Scandal In Crypto Account Restorations ETH DEX Volume Hits $3.5 Trillion In other news, Ethereum’s decentralized exchange (DEX) activity is surging, with cumulative DEX trading volume surpassing $3.5 trillion, according to data shared by Coin ￰7￱ milestone underscores Ethereum’s dominance as the backbone of decentralized finance (DeFi), fueling liquidity and trading across the crypto ￰8￱ this achievement, Ethereum’s price has come under pressure in the past week alongside other crypto ￰9￱ prominent is currently trading at $4,470, marking a 4.32% decline in the past 7 days.

Meanwhile, daily trading volume is also down by 47.31% and valued at $17.1 ￰10￱ a separate X post, Ted Pillows has also noted that if Ethereum fails to reclaim the $4,500 level, the next key support lies between $4,000 and $4,200. While this range will be crucial for maintaining bullish momentum, a deeper pullback to below $4,000 would still align with bullish historical behavior as earlier ￰11￱ image from Flickr, chart from Tradingview