Ethereum Set for Multi-Year Breakout Rally, BNB Macro Chart Remains Ultra Bullish

Ethereum has seen a decent 20% increase year-to-date and currently trades above the $4,000 support level. However, the veteran trader, Ted Pillows, has said that Ethereum has been in consolidation over the last four years, with a potential breakout rally expected soon.

On the other hand, BNB, one of the top performers this year, has seen an increase of 60% YTD. Still, the macro chart suggests that the BNB price could rise even higher, with targets as high as $2,500 in the current bull market.

Whales Are Buying ETH As Analyst Predicts Multi-Year Breakout Rally 

As the Ethereum (ETH) price recovers from its recent dip, whales have seized the opportunity to load up their bags. Santiment’s data shows that whales holding 100 and 10,000 ETH have increased their stakes to approximately 23.05 million ETH after a huge sell-off in mid-October.

In addition, Ted Pillows reported that Ethereum ETFs recorded inflows of over $246 million on October 28. The massive purchases from major investors suggest that they are potentially repositioning themselves for a big move from Ethereum.

To confirm this sentiment, Pillows wrote on X that the Ethereum price has been in consolidation over the last four years. According to the analysis he shared, ETH has been consolidating since its last major bull market move in 2021. 

With the Ethereum price now nearing a breakout of this consolidation range, Pillows believes that ETH could trade “above $8,000-$10,000 this cycle.” Don, another top crypto trader, has shared a very similar sentiment. According to Don, Ethereum has formed a bull flag and looks set to rally above $8,000.

BNB Holds Above $1,100, Could See Massive Pump Soon

Binance Coin, BNB, has been one of the biggest gainers so far in this bull market. Even after the mid-October market crash, the price of BNB has risen back above $1,100, holding gains of 5.2% on the weekly timeframe. 

The elite trader, Crypto Patel, notes that despite the recent dip, the macro chart of Ethereum is bullish. According to the analyst, the multi-year inverse head and shoulder pattern has already been broken, which could lead to massive price increases for ETH.

According to Patel, this bullish pattern means that the bull run is not over for BNB, even after multiple ATHs. He sets his bull run target for this cycle at $2,500, more than 140% increase from the current BNB price. However, for the macro chart, he places his target as high as $10,000.

CryptosBatman is another top analyst who believes in the bullish potential of BNB in this bull market. He notes that BNB is currently weak, making now the perfect opportunity to load up. According to his sentiment, the $1,100 support level is solid, along with a confluence of other bullish signals, creating a strong setup for BNB.

In Summary

The predictions for Ethereum and BNB are backed by strong technical and fundamental trends. However, while the Ethereum price target of $10,000 could happen in this bull market, BNB could hit a similar price in the next bull cycle.