Ethereum Could Reach $20K as Multi-Year BTC Base Completes: Analyst

Pseudonymous trader CrediBULL Crypto is calling for Ethereum ( $ETH ) to reach $20,000 or higher, repeating a target he first outlined three weeks ago when the token was trading near $1,500.

According to him, Ethereum is finishing a multi-year base against Bitcoin ( $BTC ) and is about to enter its first bull run since 2017.

The Charts Behind the $20K Call

In response to a claim by alphatracker that $ETH would move to $10K+, CrediBULL simply posted “$20K+” and shared a link to a video in which he built his case around long-term chart structures on both the $ETH /USD and $ETH / $BTC pairs rather than presenting the target as speculation.

“I’ve always said $10K is the absolute minimum. I think $20K is realistic..,” the analyst said in the video. “I’m not going to say it’s a given… but $20K is super, super reasonable.”

He said Ethereum has spent years underperforming Bitcoin, leaving market sentiment at levels similar to previous cycle lows. However, he argued that the $ETH / $BTC chart has now reached what he sees as a long-term accumulation zone after about four years of decline. From there, he expects the world’s second-largest cryptocurrency to build a base before beginning what he described as the next impulsive move higher.

His second thesis focused on the $ETH /USD chart. He said Ethereum has completed the first leg of a larger five-wave structure and is now holding above an invalidation level near $1,385.

According to him, if that support remains intact, the next advance could take $ETH to around $10,000 before a later wave pushes it above $20,000. He also said historical $ETH / $BTC ratios point to similar price levels if Bitcoin returns to its previous highs or continues into another expansion phase.

CrediBULL also compared the current setup with April last year, when Ethereum was trading near the same price level it is at now and was widely dismissed, only to break its all-time high a few months later. He said the setup looks similar today because the price is holding above its last low rather than breaking it, which he views as a sign that the broader uptrend remains intact.

Similar views were echoed by trader Saiyan, who set a base-case target of $10,000 for this cycle. That prompted a pushback from Cheds Trading, who replied, “That’s not happening.” Another market watcher, Sykodelik, sided with the bulls, arguing that a move above $10,000 should not be considered unrealistic because it would be only 2 times Ethereum’s all-time high.

Where $ETH Stands Now

$ETH was trading above $1,900 at the time of writing, after gaining nearly 4% over the past 24 hours and about 24% over the past month, according to CoinGecko data.

The token is still 60% below its ATH, and the gap between current price levels and prior highs is part of why traders are closely watching whether recent strength can continue. Other analysts have pointed to similar bottoming signals in recent weeks. NoName, for example, pointed to a pattern of four lower highs as evidence that the bear market has already found a floor, while chartist Ali Martinez noted a bullish crossover in the asset’s MVRV ratio.

Funding rates on Binance have also risen to their highest level in six months, which analysts at CryptoQuant say indicates that sentiment has started to improve even though the price remains well below where it stood around the same time last year.