Ethereum News Today: Ethereum Gains Momentum on Strong On-Chain Growth and Bullish Forecasts

Ethereum (ETH) is gaining attention from analysts and market participants who believe it is undervalued and could experience a dramatic price surge. Ted Pillows, a cryptocurrency investor and OKX partner with 191,000 followers on X, has expressed a strong bullish outlook, suggesting that ETH could rise to $10,000 from its current level of approximately $3,500 [1]. Pillows bases his forecast on the growing M2 supply growth rate, which reflects an increase in money supply and positions ETH as a potential inflation hedge [1].

The analyst points to price dips as buying opportunities, emphasizing that such movements are common before a new all-time high is reached. He also highlights the fact that ETH has outperformed other major cryptocurrencies like Solana (SOL) and even outpaced Bitcoin in recent long-term gains, reinforcing its role as a key altcoin competitor [1].

Market observers have set a near-term price target of $4,000, with the recent pullback seen as a favorable entry point for buyers. At the time of reporting, ETH was valued at $4,051, having risen 109% over the last 90 days and 46% in the last 30 days, making it the highest gainer among the top five cryptocurrencies [1].

In addition to bullish price forecasts, Ethereum’s technical pattern is drawing attention. A Facebook post from a cryptocurrency enthusiast noted that ETH is forming a strong technical structure that could lead to increased volatility in the coming weeks [1]. Meanwhile, a Binance profile attributed to "Cryptic Lion" observed that ETH recently broke through a key resistance level near $3,800, with volume confirming the breakout [1].

Ethereum’s continued growth is also supported by on-chain innovations. A CoinCentral article highlighted the emergence of the “on-chain payroll” era, where cryptocurrencies like ETH and XRP are being used to facilitate corporate payments and lock in future cash flows [2]. This suggests growing adoption among institutional players.

Layer 2 developments on Ethereum are also contributing to the positive sentiment. A TikTok post announced updates to Linea, an Ethereum Layer 2 network, which has reinforced the perception that Ethereum is gaining an edge over Bitcoin in terms of utility and scalability [1].

While the $10,000 price target remains distant, the combination of strong technical indicators and on-chain innovation is creating an environment where such a move could occur faster than expected. Analysts stress that these forecasts are based on current market conditions and should not be taken as guarantees [1].

Sources:

[1] title: Analyst Says Ethereum Primed to hit $10,000—Here’s Why it Could Happen ‘Real Soon’ (url: https://zycrypto.com/analyst-says-ethereum-primed-to-hit-10000-heres-why-it-could-happen-real-soon/)

[2] title: BTC, ETH, and XRP Usher in the On-Chain Payroll Era (url: https://coincentral.com/ri-mining-launches-cloud-mining-app-btc-eth-and-xrp-usher-in-the-on-chain-payroll-era/)