Last week, Ethereum saw a notable rise in price, climbing from $2,900 to over $3,900 following positive news about a potential spot ETF approval. Although the price dipped slightly afterward, optimism surrounding Ethereum remains robust. Despite no actual spot Ethereum ETF being launched yet, the market momentum persists. An analyst recently examined Ethereum's monthly chart, drawing attention to historical patterns that could influence future price movements.

The analyst, known as Trader Tardigrade, pointed out recurring trends in Ethereum's monthly chart, suggesting a pattern that could indicate future price movements. This analysis has led to a bold prediction: Ethereum's price could potentially soar to $15,000, especially with expectations of an upcoming altcoin season. Currently, Ethereum is trading at approximately $3,807, underlining the speculative yet optimistic outlook.

In addition to Ethereum, the analyst advised investors to hold onto their Solana holdings as well. This recommendation comes amidst anticipation of broader market movements and potential benefits from institutional investors entering the space through the introduction of spot Ethereum ETFs. Factors like a potential Federal Reserve rate cut further add to the bullish sentiment surrounding Ethereum's price trajectory.

While historical chart analysis forms the basis of the analyst's predictions, it's essential to consider various factors that could influence Ethereum's future price movements. The cryptocurrency's pivotal role as a leader among altcoins and the ongoing developments in the broader financial landscape contribute to the overall optimism in the market. As investors navigate these dynamics, Ethereum continues to be a focal point of interest and potential growth in the cryptocurrency sector.