Ethereum Price Target $3.5K: Elliott Wave Analysis Signals Major Rally
Ethereum price shows strong bullish signals as Elliott Wave analysis points to $3,500 target. Learn why top analysts are betting on ETH’s next major rally de…
Ethereum (ETH) could be on the verge of a significant price surge to $3,500, according to respected crypto analyst Bluntz, despite looming concerns over Donald Trump’s potential crypto regulations. Recent technical analysis has shown strong bullish momentum as ETH continues to consolidate above $2,500.
Elliott Wave Pattern Points to Major ETH Breakout
The Elliott Wave analysis on Ethereum’s 4-hour chart reveals a textbook pattern formation that suggests substantial upside potential. Here’s the wave-by-wave breakdown:
- Wave 1: Initial move from $1,500 to $1,700 in early April
- Wave 2: Consolidation near $1,700 support level
- Wave 3: Powerful 50% surge to $2,700
- Wave 4: Current consolidation in triangle pattern
- Wave 5: Projected move to $3,500 target
SPX6900: The Ethereum-Based Meme Coin to Watch
Alongside the ETH analysis, Bluntz highlighted SPX6900 ($SPX), an emerging Ethereum-based meme coin showing promising technical setups. Currently trading at $0.9069, the token appears poised to break above the psychological $1 barrier with a potential target of $2.
Technical Indicators Support Bullish Outlook
Multiple technical factors are aligning to support the bullish case for both ETH and SPX:
- Positive MACD divergence on SPX
- Tight Bollinger Band width (31.62%) suggesting imminent volatility
- Strong support levels established during consolidation
- Increasing trading volume supporting price action
Market Context and Timing
The timing of this potential rally coincides with historically low Bitcoin-Ethereum correlation levels, suggesting ETH could chart its own course independent of BTC’s movement. This technical setup, combined with broader market momentum, provides a compelling case for Ethereum’s next leg up.
FAQ
When could Ethereum reach $3,500?
According to Bluntz’s analysis, ETH could hit the $3,500 target before mid-June 2025, assuming the current Elliott Wave pattern plays out as expected.
What could prevent this rally?
Key risks include potential regulatory headwinds from Trump’s policies, broader market volatility, or a break in the current technical pattern below $2,400.
Is now a good time to buy ETH?
While technical indicators suggest bullish momentum, investors should conduct their own research and consider their risk tolerance before making investment decisions.
