Prominent crypto market analyst Ted Pillows has shared a bullish outlook of the Ethereum market tipping the altcoin to attain a $10,000 price point. Pillows’ bold prediction comes after a modest ETH price uptick of 1.21% in the past week in response to Bitcoin price rebound. However, the altcoin remains in a corrective trend after declining by 9.3% in the past month.
Ethereum Ascending Channel Suggests $10k Price Target – Details
In an X post on June 27, Pillows states an interesting analysis of the ETH market highlighting the presence of multi-cycle ascending channel that stretches as far as 2017. Using the two-weeks trading chart, Pillows shows that Ethereum retests the lower boundary of this channel once every cycle initiating a series of explosive market gains.
Notably, In 2017, a retest to this lower band led to an astonishing 300x surge, while in 2020, it catalyzed a 50x run. In 2025, ETH appears to have touched the same technical level once again, raising the possibility of yet another parabolic move.
For this most recent retest, Pillows adopts a conservative outlook, forecasting a modest 6x gain, likely influenced by Ethereum’s current market cap of $292.25 billion and its increasing exposure to institutional investors, both of which signal a maturing asset. If this projections hold, ETH could surge past the $10,000 mark.
Meanwhile, several other analysts aside from Ted Pillows resonate with an ETH long-term price target of $10,000. For example, market expert with X username Crypto Patel recently echoed this outlook, emphasizing that Ethereum must reclaim and hold above the $2,800 level as a key condition for further upside.
Presently, ETH bulls face a major price barrier around the $2,600 level, where the altcoin has been rejected twice in the past month. Clearing this hurdle is crucial for a retest of the key resistance at $2,800. A breakout above that level could open the path toward the current cycle peak near $4,000.
Ethereum Network Fees Rise By 130%
In other developments, analytics company Sentora reports that the Ethereum weekly network fees hit $10.26 million representing a 130% gain on previous week. Meanwhile, the altcoin also experienced exchange withdrawals valued at $293 million as investors move their holdings to private wallets signaling a strong market confidence.
At the time of writing, Ethereum continues to trade at $2,421 reflecting a minor 0.01% gain in the past 24 hours. Meanwhile, the altcoin’s daily trading volume is down by 16.135 and valued at $15.23 billion.
Featured image from Pexels, chart from Tradingview
