Will Ethereum Reach $10,000 Amid Market Momentum and Growing Utility?

The SEC’s approval of Ethereum spot ETFs and the rollout of the Dencun upgrade boosted its adoption and pushed the price higher.

Amid market recovery and growing utility in DeFi, NFTs, and dApps, how realistic is it for ETH to reach $10,000 this year? At the same time, a new project called PlutoChain ($PLUTO) might revolutionize Bitcoin with unmatched speed, EVM compatibility, and community-driven innovation. Let’s see what’s going on.

As of January 18, 2025, Ethereum is trading at around $3,252.04.

Its market cap is sitting at just under $390 billion, with over $32 billion worth of ETH changing hands in the last 24 hours. There are currently 120.5 million ETH in circulation.

Over the past day, its price ranged between $3,238 and $3,517. In the past 24 hours, it saw a solid 5.3% boost.

Zooming out, ETH is up 0.1% over the last week, 11.9% over the last month, and an impressive 27.7% compared to this time last year.

Ethereum’s key resistance is around $3,650, while its key support is near $3,250, marking crucial levels for price movement.

Its key resistance is around $3,650, while its key support is near $3,250.

The RSI is currently at 43, which means ETH is in the neutral zone.

In March 2024, Ethereum rolled out the “Dencun” upgrade, a major improvement meant to cut transaction fees on Layer 2 networks and boost scalability.

In July 2024, the SEC approved spot Ethereum ETFs from giants like BlackRock and Fidelity. This marked a huge milestone, brought Ethereum into traditional financial markets, and made it more accessible to investors.

Later in November, the Ethereum community gathered in Bangkok for Devcon SEA, a major event highlighting the network’s next steps. Discussions focused on the upcoming Pectra upgrade, Layer-2 interoperability, and scaling solutions.

The roadmap ahead shows Ethereum focusing on scalability and security without losing its decentralized edge. Upgrades like proto-danksharding and rollup-based solutions are supposed to make the network faster and more affordable.

InvestingHaven predicts that Ethereum could climb to the $10,000–$12,000 range by 2030.

Crypto analyst on X, Virtual Bacon, predicts Ethereum could reach $14,000 by year-end, thanks to increased Fed liquidity, pro-crypto policies, ETF inflows, and a strong altcoin season, with ETH expected to outpace Bitcoin in the bull market.

VeLLa Crypto highlights bearish sentiment around Ethereum but sees a potential rebound, targeting $3,800–$4,000, while calling this a critical “do or die” level for ETH.