A well-known cryptocurrency analyst and trader predicts that Ethereum (
ETH
) could see a significant increase in price, possibly reaching triple-digit percentage gains from its current value.

The analyst, known by the pseudonym Credible, shared his thoughts with his 396,700 followers on the social media platform X, suggesting that Ethereum could reach a five-figure price level in the current market cycle.

“I believe ETH will hit a minimum of $10,000 by the end of this cycle. Realistically, it could go much higher than that. I’m aiming for $20,000 as it aligns with Bitcoin’s peak in 2017 and is a nice, round number to aim for after breaching $10,000,” Credible stated.

With Ethereum currently trading at $3,510, the cryptocurrency would need to see an increase of between 185% and 470% to reach Credible’s price targets of $10,000 and $20,000.

Explaining his bullish outlook on Ethereum, the pseudonymous analyst stated, “Simply put, ETH is a higher-risk version of Bitcoin. If I believe Bitcoin can double from its current value, then ETH should realistically see even greater gains. A mere tripling in price would bring us to $10,000.”

Credible anticipates that Ethereum may trade within a range for some time before experiencing a breakout. He advised patience, stating, “If you can wait it out, ETH will have its moment. Just be prepared for some volatility in the coming months before it makes a significant upward move.”

According to Credible’s analysis, Ethereum’s price movement may be closely tied to Bitcoin’s performance in the market. He suggests that if Bitcoin’s support level remains above $63,000, Ethereum could stabilize around $2,800. However, if Bitcoin drops to the $62,000 – $63,000 support range or lower, Ethereum may find support around $2,130.

In conclusion, Credible’s analysis points to a potentially bullish future for Ethereum, with the cryptocurrency poised for significant growth in the coming months.