Ethereum has broken through the price level that analyst John Gillen considered to be the most critical. Gillen indicates that once ETH reaches $2,500, the next target will be $3,000; if key conditions are met, there is also a possibility of reaching $10,000 to $12,000 within the next two years.
Gillen carefully stated that he would not provide a single, definite figure. He said that Ethereum is “more difficult to predict than Bitcoin” due to its volatile prices and the absence of a fixed pattern.
Gillen Followed Price Path
- $2,500: A key resistance level that Ethereum has currently broken through and held onto. He stated that this level must not be lost.
- $3,000: The next target, which he expects to arrive “soon”.
- $5,000: The upper limit that Ethereum has touched twice in its history but failed to break through.
- $6,000 to $10,000: The range he expects after breaking through $5,000 at ETH and stabilizing above that level.
- $10,000 to $12,000: His extended goal for the next 24 months.
Gillen indicates that once the price reaches $5,000, Ethereum will enter a phase of price discovery, and at that time, no one will be able to confidently predict where the peak will be.
Why Ethereum May Finally Break Through
According to Gillen, Ethereum's early rise from 2015 to 2021 was based on a vision: it was seen as the "world computer" and the foundational layer of global finance. The past five years have been about fulfilling these promises.
He mentioned that the Ethereum network switched from proof of work to proof of stake, and the entire process did not result in any downtime; at the same time, more and more institutions are launching products on Ethereum. He said that the network is in a leading position in the areas of tokenized assets, stablecoins, and agentic finance, accounting for about 55% to 70% of that market share.
Gillen believes that ETH is currently approaching the peak of the past five-year period and is reversing its long-term downward trend relative to Bitcoin.
The difference between $6,000 and $20,000
In his view, the biggest variable is where institutional funds will ultimately flow in the next two years. The funds may go to Ethereum, or they may flow to privately licensed blockchains, or to other public chain competitors.
Gillen indicates that even if Ethereum does not dominate, ETH could still reach $10,000. If it continues to capture the majority of shares, he believes the prospects will be "very strong," which is also the difference between $6,000 ETH, $12,000 ETH, and $20,000 ETH.
What does this mean for the copycat season?
Gillen does not believe that Ethereum must lead the next wave of altcoin gains, but he refers to it as a blue-chip altcoin. If ETH rises to between $5000 and $6000 and holds that level, he expects between $200 billion and $600 billion in capital to flow into the crypto market in a short period of time.
According to his rough estimate, if a bull market is confirmed, the total market value of cryptocurrencies could rise from the current approximately $3 trillion to $10 trillion, which would mark the first full "copycat season" since 2021.
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