The Ethereum price is trading above six-month highs near the pivotal $4,000 mark, significantly outpacing Bitcoin (BTC) in terms of price gains over the past month. This surge has ignited discussions about the potential for ETH to reach new all-time highs, with some speculating that it could hit $10,000 by 2025.
Crypto expert VirtualBacon recently posed the pressing question on social media: Will the Ethereum price reach $10,000 in the coming years? As of now, ETH is hovering around $3,700, marking a remarkable 150% increase from its April lows of approximately $1,500.
Ethereum Price Breaks Key Technical Barriers
According to the expert, the technical indicators surrounding the Ethereum price suggest a robust bullish sentiment. For the first time in two years, ETH has broken above its 20-week and 50-week simple moving averages (SMAs).
This movement is reminiscent of previous bullish cycles, where higher lows and upward trends in the SMAs signaled the onset of major price rallies. VirtualBacon now views the $2,600 to $2,900 range as the new support level for this bull market, indicating that any dips into this zone could present solid buying opportunities.
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In addition to its price movements, Ethereum’s performance against Bitcoin has been noteworthy. The ETH/BTC ratio has recently broken a three-year downtrend, establishing two higher highs and two higher lows. As long as the ratio stays above 0.022, Ethereum is considered to be gaining the upper hand in this competition.
Institutional interest in Ethereum is also surging. Notably, Ethereum treasuries have skyrocketed from $23 million to an astonishing $6.6 billion in just three months, a remarkable 280-fold increase.
Potential To Soar To $16,000 In Best-Case Scenario
As highlighted by the expert, Ethereum is also leading the charge in the stablecoin sector, commanding 54% of the total $247 billion in stablecoins, while its major competitor, Tron (TRX), holds 32%.
VirtualBacon further emphasized that, given the United States’ progressive regulations, such as the passage and signing into law of the country’s first stablecoin bill (the GENIUS Act), which favor compliant stablecoins, Ethereum’s dominance in this area will likely strengthen.
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When it comes to real-world assets (RWAs), Ethereum continues to shine, as 70% of active RWA protocols are either built on Ethereum or its layer 2 solutions. Major institutional projects, such as BlackRock’s BUIDL and tokenized gold offerings from Paxos, typically begin their journey on the Ethereum network.
VirtualBacon has outlined various targets for the Ethereum price this cycle. In a best-case scenario, with Bitcoin reaching $200,000 and the ETH/BTC ratio hitting 0.08, he believes the Ethereum price could soar to $16,000.
A more realistic outlook suggests Bitcoin at $150,000 and ETH/BTC between 0.044 and 0.05, placing the Ethereum price between $6,600 and $7,500. The base case estimates ETH could close between $6,000 and $7,000 by the end of 2025, with a potential rise to $10,000 by mid-2026.
Featured image from DALL-E, chart from TradingView.com
