Ethereum Price Teases Correction, But HODLers Could Get $10K Per Token Reward

• Technical analysts warn that Ethereum price could undergo a correction soon.
• However, it could be rewarding for those who HODL as the numbers per token could hit beyond $4,000, with a huge potential of reaching $10,000.

Correction in Ethereum Chart Looms

The pseudonymous Crypto Dan, a community manager at CryptoQuant, recently pointed out that Ethereum (ETH) is already trading at an overheated zone. With that, the token risks of a short-term correction.

Ethereum Funding RatesOn the bright side, the analyst told his readers not to worry too much about it. He urged them to look at the broader trend.

The community leader explained that the overheating in Ether’s funding rate is nothing compared to the one the market experienced in March and November 2024. He called the present situation “far less significant” than those events last year. The analyst believes that the looming correction is likely to be brief and shallow.

ADVERTISEMENTCrypto Dan also claimed that ETH’s performance has been “quite lackluster” when viewing the entire lifecycle of the token. Despite its uptrend, it is still well within the undervalued territory and has clearly hit its bottom during the first quarter of this year. He is confident that Ethereum has a lot of momentum left for a significant jump in its price, which will likely signal the arrival of the long-awaited altcoin season.

Ethereum Price Going Above $4,000

The CryptoQuant analyst didn’t offer any price targets for his latest Ethereum forecast. However, others like Crypto Patel on X suggest that ETH could soon break nearer to its all-time high.

Coming in hot from its strong institutional demand—with US spot Ethereum exchange-traded funds (ETFs) hitting $830.3 million in net inflows within the past two trading days alone—the analyst said ETH could be gearing up for a surge beyond $4,000 in the short run. His earlier predictions even plotted the targets between $6,000 and $10,000, but it might dip around $2,800 before the rip.

ADVERTISEMENTInterestingly, Crypto Patel noted that Ethereum breaking over $4,000 “cleanly” could trigger the next altcoin season. Previously, he told people that the event could elevate the market cap of altcoins alone to $5 trillion.

Nonetheless, the analysts warned investors to do their own research along the way as their take is only based on specific technical patterns, which might overlook other factors such as macroeconomic and regulatory events that could influence public sentiment on ETH and other digital assets.

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