Log In

Ethereum News Today: $12,000 ETH? New Ethereum Price Prediction Turns Heads

Published 1 month ago4 minute read

Published on

Ethereum (ETH) is now trading at approximately $3,200, keeping a crucial support level while investors wonder if it will hit $12,000.

The two major network updates may be what it takes to make this possible. The Dencun update and the Pectra release are expected to enhance scalability and security, helping to address problems that have bogged down Ethereum.

These changes could make the network faster and more efficient, which might boost confidence among users and developers.

PlutoChain ($PLUTO) may also gain momentum as a hybrid Layer-2 solution. It may offer faster Bitcoin transactions and adds new ways for the network to be used.

By solving these key problems, PlutoChain could attract more users and developers to the BTC network.

Let's break this down further.

On 19 January 2025, Ethereum (ETH) was around $3,208.44.

Positive momentum is due partly to the approval of spot Ether ETFs from the SEC that might open institutional investment opportunities within the market. 

At the same time, Ethereum has in its schedule not one, but two important updates—Dencun and Pectra.

The Dencun upgrade shall make it a lot more scalable. Pectra release emphasizes security.

Both upgrades have the potential to address long-running network problems that will set Ethereum on its trajectory for growth. In the longer term, they could push Ethereum's price much closer to that $12,000 mark.

Technically speaking, Ethereum holds support at the $3,200 level while the next crucial level is set at $3,000 on the downside. On the upside, resistance exists at $3,500 and a breakout past this could take it to the $4,000 mark.

The 50-day moving average floats around $3,450 and is a bit bullish. Meanwhile, the Relative Strength Index shows that the market is neither overbought nor oversold, so there's still some space for a higher move. Bollinger Bands are at moderate volatility, and ETH will be ready to test its upper band at around $3,600 if momentum is built.

Analysts differ in their price predictions for Ethereum by 2025. According to WalletInvestor, Ethereum is likely to close at about $3,535.62 by January 2025. 

Crypto analyst 0din believes that if Ethereum breaks its previous swing high at about $3,700, it will run towards the high of $4,000.

PlutoChain ($PLUTO) is gearing up its Layer-2 solution to potentially enhance the abilities of Bitcoin.

Its potential would allow smart contracts and decentralized apps, meaning that Bitcoin has been unable to achieve it because of its 10 minutes of time per block.

This is too slow in itself for the complexity needed with such applications and hasn't had the same level of use as Ethereum or Solana.

But PlutoChain might fix that. With a block time of just 2 seconds, PlutoChain could give developers the chance to build high-performance dApps while still using Bitcoin’s secure network. 

Early testnet results show over 43,200 transactions a day, which is a good sign that it can scale for real-world use.

What is more interesting about PlutoChain is the governance model. Instead of relying on a central authority, decisions are made based on user feedback regarding protocol updates, which remains decentralized and follows the community's consensus.

What's more, PlutoChain has been audited by trusted firms such as SolidProof, QuillAudits, and Assure DeFi, giving credence to the design and security of the product.

Another advantage is compatibility with the Ethereum Virtual Machine (EVM). This will allow PlutoChain to make use of Ethereum's vast ecosystem, unleashing new hopes of DeFi, NFTs, and AI.

If PlutoChain works as envisioned, then it could open new doors for Bitcoin; it would be a lot more than a store of value.

plutochain

In contrast to potential upgrades from Ethereum, PlutoChain ($PLUTO) can become a giant new project on top of Bitcoin. Its hybrid Layer-2 solution may increase transactions and give additional capabilities by upgrading Bitcoin limitations.

Improved transaction speed with smart contracts PlutoChain is able to bring in new prospects to Bitcoin by becoming more diversified and attractive for developers.

Please note that this article is not a financial advice. All crypto tokens are volatile, and trading involves risk. Always do your own research and consult a qualified expert before joining any crypto venture. Mention of any tokens in this article does not guarantee future performance. Statements regarding the future carry risks and are not assured to be updated.

                                                                                                       _____________                                             

Origin:
publisher logo
Analytics Insight
Loading...
Loading...

You may also like...