Can Ethereum’s Price Soar to $18,000 Thanks to Last Year’s ETF Approvals?

Ethereum (ETH) is currently trading at around $3,305, with a 24-hour trading volume of just over $25.7 billion. With a circulating supply of 120.5

Ethereum (ETH) is showing promising signs of recovery as it trades at around $3,305, indicating a less than 1% change in the last 24 hours, while aiming to capitalize on last year's ETF approvals to boost its price.

Some experts are speculating that we'll likely see Ether at $15,000 this year, if not higher. Meanwhile, innovative projects like PlutoChain ($PLUTO) could tackle blockchain inefficiencies and enhance usability. Here are all the deets on this.

Key Points:

• ETH price today is $3,305, showing a slight increase over the past 24 hours but a 4.9% gain weekly.

• Last year's ETF approvals and initiatives aim to integrate major financial institutions.

• CryptoBullet anticipates a bullish breakout and suggests price targets of $6,000 and $7,500.

• Analyst VirtualBacon expects ETH to hit $14,000 by 2024's end, fueled by Fed liquidity.

• PlutoChain ($PLUTO) is a Layer-2 solution aiming to enhance Bitcoin's capabilities.

Can Ethereum’s Price Soar to $18,000 Thanks to Last Year’s ETF Approvalls?

After months of anticipation and regulatory scrutiny, the SEC finally approved eight Ethereum ETFs to be listed and traded on regulated exchanges in May 2024. This marks a significant victory for the cryptocurrency community and is expected to play a crucial role in boosting mainstream Ethereum adoption in 2024.

These ETFs will allow investors to gain exposure to Ethereum's price movements without directly purchasing or holding the cryptocurrency. This could be especially appealing to institutional investors and those new to crypto who prefer a regulated and convenient way to participate in the Ethereum market.

As the dust settles on this regulatory breakthrough, let's unpack the broader implications and what we can expect next in 2024.

Breaking Down the Booming Demand for Ethereum ETFs

The approval of these ETFs is a testament to the growing institutional interest in Ethereum. Several financial heavyweights, including BlackRock and Fidelity, are now offering these funds, which further legitimizes cryptocurrency integration into mainstream finance.

Moreover, these ETFs are expected to generate a massive volume of liquidity into the Ethereum ecosystem. As more investors pile in, it could propel ETH prices to new heights throughout the year.

Chart analysis by respected handle CryptoBullet on TradingView suggests that Ethereum is forming a giant inverse Head & Shoulders pattern on the 3D chart. This technical formation often precedes a bullish breakout, and the analyst has projected potential price targets of $6,000 and $7,500 if this plays out.

suggesting that if this pattern plays out, we could see ETH reaching price levels of $6,000 and $7,500, respectively.

Well-Known Crypto Analyst Anticipates Ethereum at $14,000 by 2024's End

Prominent crypto analyst VirtualBacon recently shared his bullish outlook for Ethereum in a new video analysis. He anticipates that ETH will hit $14,000 by the year's end, fueled by increased Fed liquidity and the onset of altcoin season.

The analyst remains confident that Ethereum will substantially outpace Bitcoin in terms of price performance, offering the potential for returns that could be twice as high. This optimism is largely driven by the narrative surrounding Bitcoin halving and its impact on altcoins.

suggesting that ETH will substantially outpace Bitcoin in terms of price performance, offering the potential for returns that could be twice as high. This optimism is largely driven by the narrative surrounding Bitcoin halving and its impact on altcoins.

PlutoChain ($PLUTO) Could Unleash Bitcoin’s Potential with Faster Transactions, Smart Contracts, and Enhanced Usability

Despite its groundbreaking nature, Bitcoin often faces challenges, like slow transaction speeds, high fees, and network congestion, which make it difficult to keep up with today's blockchain demands.

Its original design, capable of handling only a handful of transactions per second, simply wasn't built for the modern era. As a result, Bitcoin has been largely unable to support complex applications, DeFi protocols, or even NFT projects.

However, a new generation of Layer-2 solutions is emerging to tackle these limitations while staying true to Bitcoin's core principles. One such project is PlutoChain ($PLUTO), a hybrid Layer-2 solution that might just hold the key to unlocking Bitcoin's full potential.

Scaling Bitcoin Layer-2: How PlutoChain ($PLUTO) Fits In

As one of the oldest and most valuable blockchains, Bitcoin has remained quite conservative in terms of introducing new features or scaling initiatives. However, the community and developers are actively exploring Layer-2 solutions to augment