Top analysts reveal the scenario for a 345% bullish run of Ethereum

The price of Ethereum is currently fluctuating around the level of 3,400 USD. It started the new week at a price close to 4,000 USD, before falling sharply to 3,000 USD on Tuesday.

ETH Price Chart | Source: CoinphotonDespite experiencing significant volatility, a leading analyst still expects Ethereum to have an impressive growth spurt of up to 345%, setting a new all-time high for the currency.

Technical Outlook for Ethereum's 345% Bull Run

According to TraderJB's analysis, Ethereum is preparing to enter a strong growth phase in the market cycle. On the chart shared on platform X, this expert presents a long-term outlook with a target increase of 345%, corresponding to a price level of 14,766 USD.

Ethereum has just completed a corrective pattern consistent with Elliott wave theory, marking the end of a prolonged accumulation phase and opening up opportunities for a new uptrend.

This model begins after the previous price peak of Ethereum, going through several distinct phases of adjustment. The completion of the adjustment model indicates that the market has reset its sentiment and accumulated enough momentum to prepare for the next growth phase.

After the “E” wave hit the bottom, Ethereum has initiated a new five-step bullish wave sequence, with waves (1) and (2) completed. Wave (3) is currently accelerating, usually the strongest phase in the Elliott wave model.

Based on this analysis, Ethereum has the potential to enter a multi-year bullish cycle, if the big wave (iii) develops as predicted. Previous bullish cycles have yielded exceptional returns, and the current setup is reflecting similar favorable conditions.

In addition, the Ethereum ecosystem has solid foundations to support this prospect, including network upgrades, improved scalability and performance, along with increasing confidence from investors.

The weekly RSI indicator signals a 250% increase potential for the price of Ethereum

The weekly ETH price chart is attracting the attention of investors due to its appealing technical setup. According to analysis by Rekt Fencer, the stochastic RSI indicator has fallen into the oversold territory – an area that is often the starting point for strong bullish reversals.

The last time ETH fell into this range, the market witnessed a growth of 250% in just a few months. That move came after a period of accumulation and weakness, similar to the current situation.

With market momentum temporarily subsiding and indicators oscillating near low thresholds, Ethereum may be in a crucial accumulation phase, often a precursor to strong recoveries when sentiment turns positive and buying pressure prevails.

While it cannot be certain that history will repeat itself, the current technical factors all indicate significant bullish prospects. If the market continues to maintain favorable conditions, Ethereum could very well be preparing for a major growth surge in the coming months.

According to Gum, the price of ETH needs to maintain above the 200-day moving average – a key technical threshold that delineates bullish and bearish trends. The upward trend line drawn from last year's low further reinforces this solid structure. Each recent correction has received strong buying pressure, absorbing most of the supply.

At present, Ethereum is consolidating after an impressive growth spurt earlier this year, with periods of pause seen as preparation for the next big movements.

Mr. Teacher