Analyst targets Ethereum $16,000 in 2026–2027, sets $1,000–$1,550 zone
Ethereum dipped to ~$1,505 during a market-wide selloff. Analyst Crypto Patel frames the drop as an accumulation phase, not exit risk.
ETH briefly touched $1,505 on Saturday, June 6, amid broad crypto weakness documented by Bitcoinist. Sentiment flipped fearful after reports tied to a large transfer linked to Joseph Lubin raised dump fears here.
Patel points to the 2-week chart and suggests staged accumulation near current levels, not panic selling in his post and related coverage.
His preferred ETH/USDT zone sits at $1,550–$1,000. He sees $1,000 as strong support; a break below, if it happens, would be brief as a final flush per his chart.
Patel’s long‑term map uses an Elliott Wave view. He classifies the current move as Wave 4 consolidation before a Wave 5 expansion expected into 2026–2027 per NewsBTC.
He marks $3,945 as major resistance. A breakout above would signal exit from accumulation and confirm a larger bullish phase per Patel.
The projected Wave 5 target reaches $16,000, with cycle top timing between 2026 and 2027. Patel also notes scenarios with ETH above $10,000 and potentially $20,000 over the long term outlined here.
