The post Ethereum Price Prediction: Will ETH Breakout in the Next Weeks as PlutoChain Momentum Builds appeared on BitcoinEthereumNews.com.

Record-breaking TVL, which surged to $90 billion in late 2024, shows how dominant Ethereum is in DeFi. The upcoming Pectra upgrade is meant to enhance scalability, security, and efficiency. Considering all Ethereum has going for it, can it reach $5,000 in the following weeks? Another interesting project right now is PlutoChain ($PLUTO) – a Layer-2 solution that could introduce EVM compatibility and bring smart contracts to Bitcoin. Here’s a closer look at these developments. Can Ethereum (ETH) Break $5,000 Soon? A Detailed Analysis of the Factors Behind the Prediction As of January 12th, 2025, Ethereum (ETH) trades at approximately $3,237, with a 24-hour trading volume of 118 million. Ethereum Price Source: Brave New Coin Ethereum Liquid Index This price sits about 33% below its all-time high of $4,878, reached in November 2021. Ethereum’s Total Value Locked (TVL) set multiple records over the past year. In January 2024, its Layer-2 TVL reached $21.16 billion, which marks a 333% increase compared to January 2023. By November 2024, Layer-2 networks elevated this figure to over $51.5 billion — a 205% rise from $16.6 billion the prior year. On the technical front, Ethereum closed in late 2024 above its 50-week and 100-week moving averages, offering a positive outlook for long-term investors. The RSI, currently at 39, indicates a neutral to slightly oversold position. Ethereum’s network activity has reached record highs, with transaction volumes surging to levels not seen since 2021. This is mostly thanks to the adoption of AI-driven tools that enhance functionality and attract a broader audience. The upcoming Pectra upgrade, set for early 2025, merges two major updates: the Prague upgrade, which enhances the execution layer, and the Electra upgrade, which focuses on the consensus layer. Together, they aim to address Ethereum’s scalability, security, and congestion issues. One key feature of Pectra…

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Filed under: News - @ January 12, 2025 9:23 am