At around $3,900, Ethereum is only about 19% away from its peak price, which it hit over three years ago.
This brings up a long-discussed question - can Ethereum hit $10,000 by 2025?
On a different note, PlutoChain ($PLUTO) is a project that might be worth checking out.
It might bring advanced Layer-2 tech solutions that could potentially take Bitcoin's capabilities to the next level in the upcoming months.
Let’s check out the details below.
Technical Data Shows Patterns - Is Ethereum on Track to Reach $10,000 by 2025?
Currently sitting at $3,931 according to CoinGeko, it’s possible for ETH to hit $10,000 by 2025.
This target is largely driven by Ethereum's strong technical indicators and the current bullish momentum in the market.
Looking at the daily chart, Ethereum has shown positive movement and broke out from a falling channel.
It recently surpassed $3,600, with a significant jump of over 10%, marking a potential trend reversal after several months of consolidation.
The key technical indicators, such as the 100-day and 200-day exponential moving averages (EMAs), have recently crossed in a bullish formation.
According to Ali Martinez, a crypto analyst, if Ethereum continues along this upward trajectory, it could reach $6,000 in the mid-term. The long-term target of $10,000 is realistic if the price can break above the upper boundary of the channel.
The Relative Strength Index (RSI) also supports further growth, showing that the momentum is strong enough to sustain the upward movement, though some pullbacks might occur along the way.
Key resistance levels are seen around $4,091, while crucial support is at $3,300 to $3,000.
Can PlutoChain Transform Bitcoin’s Blockchain Future?
PlutoChain ($PLUTO) could offer a breakthrough for Bitcoin by introducing a Layer-2 solution that enables smart contracts and decentralized applications.
Bitcoin’s slow 10-minute block time has historically limited complex applications, a gap addressed by faster blockchains like Ethereum and Solana.
PlutoChain could resolve this by cutting block times to just 2 seconds on its own L2 chain.
This faster processing could allow developers to build decentralized apps while maintaining Bitcoin’s strong security, potentially making the network more versatile and competitive.
What Could Make PlutoChain Unique? In-Depth Analysis of Its Key Features
The project’s testnet has already demonstrated impressive performance, processing over 43,000 transactions daily.
This is a promising indicator of PlutoChain’s ability to scale and potentially support mass adoption in the future.
PlutoChain also puts a major focus on community governance.
This approach invites active participation from users, allowing them to have a say in the development and direction of the network.
Another major feature of PlutoChain is security. To ensure its platform is secure and reliable, the project has undergone three independent security audits, including firms such as SolidProof, QuillAudits, and Assure DeFi.
What could make PlutoChain particularly exciting is its compatibility with the Ethereum Virtual Machine (EVM).
This feature could allow Ethereum-based decentralized applications (dApps) to seamlessly integrate with Bitcoin’s network, potentially opening up new opportunities in decentralized finance (DeFi), non-fungible tokens (NFTs), and potentially AI-driven blockchain solutions.
The Bottom Line
Bitcoin has traditionally been seen mainly as a store of value, however, PlutoChain could change this by adding smart contract capabilities to Bitcoin's secure network.
As the project prepares for its mainnet launch, it might be worth keeping an eye on its updates in the next few weeks.
This article is not financial advice. Past results are not indicative of future returns, and the crypto market is inherently unpredictable. Readers must conduct their own thorough research before purchasing any crypto coin or token. These forward-looking statements are subject to risks and may remain unchanged.
