Ethereum Price Today: Will ETH Bulls Undo Sell Signal?

Uncover if Ethereum price will hit $5,000 as ETH bulls look to undo this key sell signal. Or will Ether prices crash to $3,000?
By Akash Girimath
December 7, 2024 | Updated December 7, 2024
Analyst Outlines Buying Opportunity Before Ethereum (ETH) Price Skyrockets to $3,000

Highlights

  • Ethereum price today is hovering below the $4,000 key level.
  • ETH bulls will likely undo the bearish divergence sell signal flashed on the daily chart.
  • A breakdown of $3,352 support level could trigger a 14% correction to $3,000.

Although Ethereum (ETH) price was not greatly affected by recent Bitcoin crash, its recovery rally is key as sell signals emerge on Ether. Ethereum price today trades at $4,014.1 as of 11 PM. ETH hit a daily high of $4,027.4 after -0.13% move on September 29. If this bullish outlook sustains, Ether could not only hit $4,000, but attempt to set up a new all-time high above the $5,000 psychological level.

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Ethereum Price Today: How Much Longer Can ETH Delay Sell Signals?

The daily chart shows Ethereum’s sell signal continues to extend, waiting for price to drop. However, ETH bulls are not giving up either, leading to a 12% rally in under three days. The slow and steady move pushes ETH closer to the $4,000 psychological level. 

Will the sell signal result in a correction? Will investors get to accumulate ETH at a discount before it hits $5,000? Let’s explore.

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Ethereum Price Chart Today

eth price today

*Ethereum price updated as of 11 PM.

Ethereum’s innovative smart contract technology has made it a standout altcoin since its inception in 2015. Continuous major network upgrades ensure Ethereum stays ahead in smart contract innovation. The latest upgrade, Cancun, launched on March 13, 2024.

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Ethereum Price Forecast & Outlook

ETH’s year-to-date (YTD) performance continues to increase and currently sits at 33%. This recent slump in Bitcoin price has affected the YTD gains, which have dropped from 50% since November 11. As of September 29, 2024, if you invested $10,000 in ETH on January 1, 2024, your portfolio, after 317 days, would be up roughly $3,317. Ethereum’s market capitalization stands at $483.6 billion.

Ethereum: The Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $483.6 billion, after Bitcoin’s $1.73 trillion. Together, BTC & ETH’s market capitalization constitutes 83% of the total crypto market cap.

Since its all-time high of $571 billion in November 2021, Ethereum’s value decreased by half in October, but has spiked recently due to Bitcoin’s new ATH. Still, Ethereum maintains a strong lead over other popular cryptocurrencies:
  • Solana (SOL): $98.8 billion
  • Ripple (XRP): $89.8 billion
  • BNB (BNB): $91.0 billion

Despite this recent downtick and recovery, the 24-hour trading volume of Ethereum is $22.5 billion.

Ethereum’s Crypto Trading Volume Soars

The 24-hour trading volume of Ethereum is $22.5 billion. Binance is the largest contributor to this trading volume – about 11% is contributed by spot trading and nearly 40% from futures trading. Exchanges like OKX, Bitget, and ByBit follow Binance.

Ethereum’s Proof-of-Stake Technology

The London hard fork is a significant Ethereum blockchain upgrade. It changed the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Ethereum co-founder Vitalik Buterin recently shared his thoughts on X (formerly Twitter). He explained how Proof-of-Stake (PoS) is more decentralized than Proof-of-Work (PoW).

Important Upgrades to Ethereum Blockchain

Here are some key upgrades in the past five years that shaped Ethereum as the second-largest crypto by market capitalization.

2024:

  • Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
  • Shanghai-Capella (“Shapella”): Enabled the withdrawal of staked Ether (ETH), marking a significant milestone in Ethereum’s transition to a Proof-of-Stake (PoS) consensus algorithm.
2022:
  • Paris (The Merge): Successfully transitioned Ethereum from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus algorithm, reducing energy consumption and increasing security.
  • Bellatrix: Prepared the Ethereum network for The Merge by introducing the necessary PoS consensus logic.
  • Gray Glacier: Delayed the “difficulty bomb” that would have slowed down the network, ensuring a smooth transition to PoS.
2021:
  • Arrow Glacier: Delayed the “difficulty bomb” again, providing more time for the transition to PoS.
  • Altair: Introduced several improvements to the Beacon Chain, including better validator incentives and enhanced security.
  • London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
  • Berlin: Introduced several protocol upgrades, including improved gas efficiency and enhanced security features.
2020:
  • Beacon Chain genesis: Launched the Beacon Chain, marking the beginning of Ethereum’s transition to PoS.
  • Staking deposit contract deployed: Enabled users to deposit ETH and participate in the PoS consensus algorithm.
  • Muir Glacier: Delayed the “difficulty bomb” to ensure a smooth transition to PoS.

ETH Gas’ Effect on Ether Prices

The blockchain upgrades Ethereum receives aim to solve the trilemma of blockchain, i.e., balancing decentralization, security, and scalability. The switch to Proof-of-Stake (PoS) enhanced these aspects. Ethereum’s transaction fees (gas fees) plummeted post-upgrade, drawing more investors. Gas fees are like taxes, measured in Gwei, required for secure transactions.

As of September 29, the gas fee for a transaction on the ETH network as of 11 PM is 14 Gwei.

When Ethereum’s on-chain value grows, presenting opportunities, investors flock, driving gas fees up. This typically occurs during market upswings, peaking at all-time highs.

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Ethereum Price Outlook For The Next Week

Date Price Change
September 29, 20253971.56-0.4%
September 30, 20254015.690.7%
October 01, 20254097.432.75%
October 02, 20254263.156.91%
October 03, 20254376.989.76%
October 04, 20254458.8511.82%
October 05, 20254350.989.11%
October 06, 20254265.906.98%
October 07, 20254301.147.86%
October 08, 20254412.1110.64%
October 09, 20254585.8015%
October 10, 20254669.9017.11%
October 11, 20254734.2618.72%
October 12, 20254774.9119.74%
October 13, 20254771.4819.66%
October 14, 20254719.3618.35%
October 15, 20254674.3117.22%
October 16, 20254621.5615.9%
October 17, 20254475.5512.23%
October 18, 20254322.028.38%
October 19, 20254157.384.26%
October 20, 20254139.663.81%
October 21, 20254179.704.82%
October 22, 20254154.274.18%
October 23, 20254143.613.91%
October 24, 20254162.724.39%
October 25, 20254206.895.5%
October 26, 20254265.106.96%
October 27, 20254356.219.24%
October 28, 20254430.6311.11%

Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade at around $3,373 in the next week. This is a considerate prediction and is in line with the lackluster performance seen since the start of 2024.

Ethereum Price Outlook Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,711.60 $4,763.21 $4,237.40 7.8%
February $3,564.53 $4,751.51 $4,158.02 5.8%
March $3,417.46 $4,739.81 $4,078.63 3.8%
April $3,270.38 $4,728.11 $3,999.25 1.8%
May $3,123.31 $4,716.41 $3,919.86 -0.2%
June $2,976.24 $4,704.71 $3,840.48 -2.3%
July $2,829.17 $4,693.01 $3,761.09 -4.3%
August $2,682.10 $4,681.31 $3,681.70 -6.3%
September $2,535.03 $4,669.61 $3,602.32 -8.3%
October $2,387.95 $4,657.91 $3,522.93 -10.3%
November $2,240.88 $4,646.21 $3,443.55 -12.4%
December $2,093.81 $4,634.51 $3,364.16 -14.4%
All Time $2,902.70 $4,698.86 $3,800.78 -3.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,730.91 $5,088.80 $4,068.31 3.5%
February $3,368.01 $5,543.09 $4,772.47 21.5%
March $4,005.11 $5,997.38 $5,476.62 39.4%
April $4,642.21 $6,451.67 $6,180.77 57.3%
May $5,279.31 $6,905.96 $6,884.93 75.2%
June $5,916.41 $7,360.26 $7,589.08 93.2%
July $6,553.50 $7,814.55 $8,293.23 111.1%
August $7,190.60 $8,268.84 $8,997.39 129%
September $7,827.70 $8,723.13 $9,701.54 146.9%
October $8,464.80 $9,177.42 $10,405.69 164.8%
November $9,101.90 $9,631.71 $11,109.85 182.8%
December $9,739 $10,086 $11,814 200.7%
All Time $6,234.95 $7,587.40 $7,941.16 102.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $10,130.58 $10,490.67 $12,264.50 212.2%
February $10,522.17 $10,895.33 $12,715 223.6%
March $10,913.75 $11,300 $13,165.50 235.1%
April $11,305.33 $11,704.67 $13,616 246.6%
May $11,696.92 $12,109.33 $14,066.50 258%
June $12,088.50 $12,514 $14,517 269.5%
July $12,480.08 $12,918.67 $14,967.50 280.9%
August $12,871.67 $13,323.33 $15,418 292.4%
September $13,263.25 $13,728 $15,868.50 303.9%
October $13,654.83 $14,132.67 $16,319 315.3%
November $14,046.42 $14,537.33 $16,769.50 326.8%
December $14,438 $14,942 $17,220 338.3%
All Time $12,284.29 $12,716.33 $14,742.25 275.2%
Month Minimum Price Average Price Maximum Price Potential ROI
January $14,929.83 $15,454.08 $17,892.92 355.4%
February $15,421.67 $15,966.17 $18,565.83 372.5%
March $15,913.50 $16,478.25 $19,238.75 389.7%
April $16,405.33 $16,990.33 $19,911.67 406.8%
May $16,897.17 $17,502.42 $20,584.58 423.9%
June $17,389 $18,014.50 $21,257.50 441%
July $17,880.83 $18,526.58 $21,930.42 458.2%
August $18,372.67 $19,038.67 $22,603.33 475.3%
September $18,864.50 $19,550.75 $23,276.25 492.4%
October $19,356.33 $20,062.83 $23,949.17 509.5%
November $19,848.17 $20,574.92 $24,622.08 526.7%
December $20,340 $21,087 $25,295 543.8%
All Time $17,634.92 $18,270.54 $21,593.96 449.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $21,061.08 $21,833.75 $26,177.58 566.3%
February $21,782.17 $22,580.50 $27,060.17 588.7%
March $22,503.25 $23,327.25 $27,942.75 611.2%
April $23,224.33 $24,074 $28,825.33 633.7%
May $23,945.42 $24,820.75 $29,707.92 656.1%
June $24,666.50 $25,567.50 $30,590.50 678.6%
July $25,387.58 $26,314.25 $31,473.08 701%
August $26,108.67 $27,061 $32,355.67 723.5%
September $26,829.75 $27,807.75 $33,238.25 746%
October $27,550.83 $28,554.50 $34,120.83 768.4%
November $28,271.92 $29,301.25 $35,003.42 790.9%
December $28,993 $30,048 $35,886 813.4%
All Time $25,027.04 $25,940.88 $31,031.79 689.8%

In the next year, Ethereum price could still be hovering in the current range. Based on the prediction data, ETH’s trade range extends from $3,001.19 to $4,651.84. This outlook is based on the previous data. However, if ETH breaks the trend, it could go much higher.

The long-term outlook extending from 2025 to 2029, Ethereum price could hit a high of $18,603 with the lowest point being $3,000.

Ethereum Price Outlook Between 2030 & 2050

2030
2031
2032
2033
2040
2050
Month Minimum Price Average Price Maximum Price Potential ROI
January $30,019.42 $31,111.75 $37,107.83 844.5%
February $31,045.83 $32,175.50 $38,329.67 875.6%
March $32,072.25 $33,239.25 $39,551.50 906.7%
April $33,098.67 $34,303 $40,773.33 937.8%
May $34,125.08 $35,366.75 $41,995.17 968.9%
June $35,151.50 $36,430.50 $43,217 999.9%
July $36,177.92 $37,494.25 $44,438.83 1031%
August $37,204.33 $38,558 $45,660.67 1062.1%
September $38,230.75 $39,621.75 $46,882.50 1093.2%
October $39,257.17 $40,685.50 $48,104.33 1124.3%
November $40,283.58 $41,749.25 $49,326.17 1155.4%
December $41,310 $42,813 $50,548 1186.5%
All Time $35,664.71 $36,962.38 $43,827.92 1015.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $42,710.42 $44,230.83 $52,301 1231.2%
February $44,110.83 $45,648.67 $54,054 1275.8%
March $45,511.25 $47,066.50 $55,807 1320.4%
April $46,911.67 $48,484.33 $57,560 1365%
May $48,312.08 $49,902.17 $59,313 1409.6%
June $49,712.50 $51,320 $61,066 1454.2%
July $51,112.92 $52,737.83 $62,819 1498.9%
August $52,513.33 $54,155.67 $64,572 1543.5%
September $53,913.75 $55,573.50 $66,325 1588.1%
October $55,314.17 $56,991.33 $68,078 1632.7%
November $56,714.58 $58,409.17 $69,831 1677.3%
December $58,115 $59,827 $71,584 1721.9%
All Time $50,412.71 $52,028.92 $61,942.50 1476.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $60,127.08 $61,945.67 $73,990.08 1783.2%
February $62,139.17 $64,064.33 $76,396.17 1844.4%
March $64,151.25 $66,183 $78,802.25 1905.7%
April $66,163.33 $68,301.67 $81,208.33 1966.9%
May $68,175.42 $70,420.33 $83,614.42 2028.1%
June $70,187.50 $72,539 $86,020.50 2089.4%
July $72,199.58 $74,657.67 $88,426.58 2150.6%
August $74,211.67 $76,776.33 $90,832.67 2211.9%
September $76,223.75 $78,895 $93,238.75 2273.1%
October $78,235.83 $81,013.67 $95,644.83 2334.3%
November $80,247.92 $83,132.33 $98,050.92 2395.6%
December $82,260 $85,251 $100,457 2456.8%
All Time $71,193.54 $73,598.33 $87,223.54 2120%
Month Minimum Price Average Price Maximum Price Potential ROI
January $85,173.08 $88,270.08 $104,030.83 2547.8%
February $88,086.17 $91,289.17 $107,604.67 2638.7%
March $90,999.25 $94,308.25 $111,178.50 2729.7%
April $93,912.33 $97,327.33 $114,752.33 2820.6%
May $96,825.42 $100,346.42 $118,326.17 2911.6%
June $99,738.50 $103,365.50 $121,900 3002.6%
July $102,651.58 $106,384.58 $125,473.83 3093.5%
August $105,564.67 $109,403.67 $129,047.67 3184.5%
September $108,477.75 $112,422.75 $132,621.50 3275.5%
October $111,390.83 $115,441.83 $136,195.33 3366.4%
November $114,303.92 $118,460.92 $139,769.17 3457.4%
December $117,217 $121,480 $143,343 3548.3%
All Time $101,195.04 $104,875.04 $123,686.92 3048.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $122,228.92 $127,149 $148,404.92 3677.2%
February $127,240.83 $132,818 $153,466.83 3806%
March $132,252.75 $138,487 $158,528.75 3934.8%
April $137,264.67 $144,156 $163,590.67 4063.7%
May $142,276.58 $149,825 $168,652.58 4192.5%
June $147,288.50 $155,494 $173,714.50 4321.3%
July $152,300.42 $161,163 $178,776.42 4450.2%
August $157,312.33 $166,832 $183,838.33 4579%
September $162,324.25 $172,501 $188,900.25 4707.8%
October $167,336.17 $178,170 $193,962.17 4836.7%
November $172,348.08 $183,839 $199,024.08 4965.5%
December $177,360 $189,508 $204,086 5094.3%
All Time $149,794.46 $158,328.50 $176,245.46 4385.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $182,320.42 $194,468.42 $208,439 5205.1%
February $187,280.83 $199,428.83 $212,792 5315.9%
March $192,241.25 $204,389.25 $217,145 5426.7%
April $197,201.67 $209,349.67 $221,498 5537.5%
May $202,162.08 $214,310.08 $225,851 5648.3%
June $207,122.50 $219,270.50 $230,204 5759.1%
July $212,082.92 $224,230.92 $234,557 5869.9%
August $217,043.33 $229,191.33 $238,910 5980.7%
September $222,003.75 $234,151.75 $243,263 6091.5%
October $226,964.17 $239,112.17 $247,616 6202.3%
November $231,924.58 $244,072.58 $251,969 6313.1%
December $236,885 $249,033 $256,322 6423.8%
All Time $209,602.71 $221,750.71 $232,380.50 5814.5%

Between 2023 and 2050, Ethereum’s price will most likely follow the bullish outlook and aim for the six-digit territory. The lowest price point is $16,092.58, and the highest price of Ether is $145,915.83.

Ethereum Price Today: Will ETH Bulls Undo Sell Signal?

As discussed in previous articles, a sell signal emerged on Ethereum’s daily chart, forecasting a potential correction. This bearish divergence sign was formed due to the nonconformity between price’s higher highs and momentum indicator’s lower high. The divergence denotes lack of momentum to the upswing and hence indicates of a potential pullback or a correction.

While the technicals pointed to a retracement, ETH bulls showed resilience even when Bitcoin crashed nearly 8% in the third week of November and during the December 5 crash. Despite these events Ethereum price has managed to tag the $4,000 psychological level, where it currently auctions.

If this paradigm shift in ETH is here to stay, then this signal, which is still valid, will likely be undone by ETH bulls.

ETH/USDT 1-day chart
ETH/USDT 1-day chart

On the other hand, if ETH holders decide to book in early profits, it could trigger a short-term correction that satisfies the bearish divergence sell signal. In such a case, Ethereum price needs to hold above the $3,500 to $3,352 support zone. A bounce here could send Ether flying to the next key psychological level of $5,000.

If the aforementioned barriers fail to support price, leading to a breakdown, it would invalidate the bullish thesis. Such a development could see ETH crash 14% to revisit the $3,000 psychological level, even briefly dipping below it.

Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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