Ethereum’s native token Ether (ETH) could rise to $10,000 in the coming months based on multiple bullish fundamental and fractal indicators, Cointelegraph reported.

Julien Bittel, head of macro research at Global Macro Investor, noted that ETH’s current price action is similar to the price fractal from January 2023 to March 2024, when ETH prices consolidated between $1,500 and $2,000 before breaking out to $3,500.

Another key factor is the fractal analysis of the long-term Fibonacci retracement chart, the exponential moving average (EMA), and the relative strength index (RSI). If ETH follows a similar trajectory, a rebound from the 2022 low of $1,080 could reach $6,978 and $10,623.

The third reason is the growth of the global M2 money supply. Historical data shows that the price of Bitcoin is closely related to changes in the M2 money supply. As global liquidity expands, Bitcoin and Ethereum may rise in sync, making $10,000 a realistic target.