Ethereum Price Today: ETH is Down 1% But Whales Accumulate

Uncover why Ethereum price is down today while whales conitnue to accumulate ETH. Will ETH rally or profit-taking trigger a correction?
By Akash Girimath
December 14, 2024 | Updated December 14, 2024
Top Reasons Why Ethereum Price is Down Today?

Highlights

  • Ethereum price today is down 1% as it trades around $3,864.
  • ETH's rejection form parallel channel's midpoint, suggests a potential short-term correction.
  • A bounce from $3,500 to $3,300 support barriers could propel ETH higher.

Ethereum price today trades at $3,871.7 as of 11 PM. The drop comes after ETH hit a daily high of $3,944.4 after -0.79% move on December 5.

Ethereum Price Today: Why is ETH down?

Ethereum price faces rejection from the parallel channel’s midpoint. This weakness can be attributed to Bitcoin’s recent slump, which has affected altcoins, include ETH. Additionally, the end of the week is often leads to a drop in volume and liquidity.

Will Ether bounce or drop lower? Let’s explore.

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.

Ethereum Price Forecast & Outlook

ETH’s year-to-date (YTD) performance continues to increase and currently sits at 75.29%. This recent slump in Bitcoin price has affected the YTD gains, which have dropped from 50% since November 11.

Ethereum: The Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $466.8 billion, after Bitcoin’s $1.95 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): $109 billion
  • Ripple (XRP): $138 billion
  • BNB (BNB): $104 billion

In addition to a massive market cap, Ethereum’s 24-hour trading volume sits at $28.6 billion.

Ethereum’s Crypto Trading Volume Soars

The 24-hour trading volume of Ethereum is $28.6 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 December 5, 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 Forecast For The Next 7 Days

Date Price Change
December 04, 20253055.01-0.99%
December 05, 20253089.120.12%
December 06, 20253154.312.23%
December 07, 20253282.426.38%
December 08, 20253367.669.14%
December 09, 20253430.9511.2%
December 10, 20253337.478.17%
December 11, 20253282.086.37%
December 12, 20253309.337.25%
December 13, 20253406.4910.4%
December 14, 20253540.7714.75%
December 15, 20253595.4516.53%
December 16, 20253641.9318.03%
December 17, 20253673.3619.05%
December 18, 20253658.5018.57%
December 19, 20253618.2017.26%
December 20, 20253584.7216.18%
December 21, 20253527.0114.31%
December 22, 20253414.1410.65%
December 23, 20253292.096.69%
December 24, 20253164.812.57%
December 25, 20253191.803.44%
December 26, 20253208.443.98%
December 27, 20253188.793.35%
December 28, 20253190.803.41%
December 29, 20253205.573.89%
December 30, 20253249.375.31%
December 31, 20253302.157.02%
January 01, 20263373.919.35%
January 02, 20263411.6010.57%

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 Forecast Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,033.48 $3,651.55 $3,342.52 8.1%
February $3,011.94 $3,629.73 $3,320.84 7.4%
March $2,990.41 $3,607.92 $3,299.17 6.7%
April $2,968.87 $3,586.11 $3,277.49 6%
May $2,947.34 $3,564.29 $3,255.82 5.3%
June $2,925.80 $3,542.48 $3,234.15 4.6%
July $2,904.27 $3,520.67 $3,212.47 3.9%
August $2,882.73 $3,498.85 $3,190.80 3.2%
September $2,861.20 $3,477.04 $3,169.12 2.5%
October $2,839.66 $3,455.23 $3,147.45 1.8%
November $2,818.13 $3,433.41 $3,125.77 1.1%
December $2,796.59 $3,411.60 $3,104.10 0.37%
All Time $2,915.03 $3,531.57 $3,223.31 4.2%
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,114.13 $3,697.51 $3,509.85 13.5%
February $3,431.67 $3,983.43 $3,915.59 26.6%
March $3,749.21 $4,269.34 $4,321.34 39.7%
April $4,066.75 $4,555.25 $4,727.09 52.9%
May $4,384.29 $4,841.16 $5,132.83 66%
June $4,701.83 $5,127.08 $5,538.58 79.1%
July $5,019.37 $5,412.99 $5,944.33 92.2%
August $5,336.91 $5,698.90 $6,350.07 105.3%
September $5,654.45 $5,984.81 $6,755.82 118.5%
October $5,971.99 $6,270.73 $7,161.57 131.6%
November $6,289.53 $6,556.64 $7,567.31 144.7%
December $6,607.07 $6,842.55 $7,973.06 157.8%
All Time $4,860.60 $5,270.03 $5,741.45 85.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $6,872.75 $7,117.12 $8,272.25 167.5%
February $7,138.44 $7,391.69 $8,571.45 177.2%
March $7,404.12 $7,666.27 $8,870.64 186.8%
April $7,669.81 $7,940.84 $9,169.83 196.5%
May $7,935.49 $8,215.41 $9,469.03 206.2%
June $8,201.18 $8,489.98 $9,768.22 215.9%
July $8,466.86 $8,764.55 $10,067.41 225.5%
August $8,732.54 $9,039.12 $10,366.61 235.2%
September $8,998.23 $9,313.70 $10,665.80 244.9%
October $9,263.91 $9,588.27 $10,964.99 254.6%
November $9,529.60 $9,862.84 $11,264.19 264.2%
December $9,795.28 $10,137.41 $11,563.38 273.9%
All Time $8,334.02 $8,627.27 $9,917.82 220.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $10,149.11 $10,496.52 $12,054.66 289.8%
February $10,502.94 $10,855.63 $12,545.95 305.7%
March $10,856.77 $11,214.74 $13,037.23 321.6%
April $11,210.60 $11,573.85 $13,528.52 337.5%
May $11,564.43 $11,932.96 $14,019.80 353.3%
June $11,918.26 $12,292.07 $14,511.09 369.2%
July $12,272.09 $12,651.18 $15,002.37 385.1%
August $12,625.92 $13,010.29 $15,493.65 401%
September $12,979.75 $13,369.40 $15,984.94 416.9%
October $13,333.58 $13,728.51 $16,476.22 432.8%
November $13,687.41 $14,087.62 $16,967.51 448.7%
December $14,041.24 $14,446.73 $17,458.79 464.5%
All Time $12,095.18 $12,471.63 $14,756.73 377.2%
Month Minimum Price Average Price Maximum Price Potential ROI
January $14,509.79 $14,941.68 $17,999.28 482%
February $14,978.33 $15,436.63 $18,539.77 499.5%
March $15,446.88 $15,931.58 $19,080.25 517%
April $15,915.42 $16,426.52 $19,620.74 534.4%
May $16,383.97 $16,921.47 $20,161.23 551.9%
June $16,852.51 $17,416.42 $20,701.72 569.4%
July $17,321.06 $17,911.37 $21,242.20 586.9%
August $17,789.60 $18,406.32 $21,782.69 604.4%
September $18,258.15 $18,901.27 $22,323.18 621.8%
October $18,726.69 $19,396.21 $22,863.67 639.3%
November $19,195.24 $19,891.16 $23,404.15 656.8%
December $19,663.78 $20,386.11 $23,944.64 674.3%
All Time $17,086.78 $17,663.89 $20,971.96 578.1%

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 $20,354.68 $21,084.77 $24,745.93 700.2%
February $21,045.58 $21,783.43 $25,547.23 726.1%
March $21,736.48 $22,482.09 $26,348.52 752%
April $22,427.38 $23,180.75 $27,149.82 777.9%
May $23,118.28 $23,879.41 $27,951.11 803.8%
June $23,809.18 $24,578.07 $28,752.41 829.7%
July $24,500.08 $25,276.72 $29,553.70 855.6%
August $25,190.98 $25,975.38 $30,354.99 881.5%
September $25,881.88 $26,674.04 $31,156.29 907.5%
October $26,572.78 $27,372.70 $31,957.58 933.4%
November $27,263.68 $28,071.36 $32,758.88 959.3%
December $27,954.58 $28,770.02 $33,560.17 985.2%
All Time $24,154.63 $24,927.39 $29,153.05 842.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $28,978.64 $29,822.02 $34,758.15 1023.9%
February $30,002.70 $30,874.03 $35,956.12 1062.7%
March $31,026.75 $31,926.03 $37,154.10 1101.4%
April $32,050.81 $32,978.04 $38,352.08 1140.1%
May $33,074.87 $34,030.04 $39,550.05 1178.9%
June $34,098.93 $35,082.05 $40,748.03 1217.6%
July $35,122.98 $36,134.05 $41,946.01 1256.4%
August $36,147.04 $37,186.05 $43,143.98 1295.1%
September $37,171.10 $38,238.06 $44,341.96 1333.8%
October $38,195.16 $39,290.06 $45,539.94 1372.6%
November $39,219.21 $40,342.07 $46,737.91 1411.3%
December $40,243.27 $41,394.07 $47,935.89 1450%
All Time $34,610.95 $35,608.05 $41,347.02 1237%
Month Minimum Price Average Price Maximum Price Potential ROI
January $41,861.73 $43,054.61 $49,802.12 1510.4%
February $43,480.20 $44,715.16 $51,668.35 1570.7%
March $45,098.66 $46,375.70 $53,534.59 1631.1%
April $46,717.12 $48,036.24 $55,400.82 1691.4%
May $48,335.59 $49,696.79 $57,267.05 1751.8%
June $49,954.05 $51,357.33 $59,133.28 1812.1%
July $51,572.51 $53,017.87 $60,999.51 1872.5%
August $53,190.98 $54,678.42 $62,865.74 1932.8%
September $54,809.44 $56,338.96 $64,731.98 1993.2%
October $56,427.90 $57,999.50 $66,598.21 2053.5%
November $58,046.37 $59,660.05 $68,464.44 2113.8%
December $59,664.83 $61,320.59 $70,330.67 2174.2%
All Time $50,763.28 $52,187.60 $60,066.40 1842.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $61,862.34 $63,635.62 $73,159.88 2265.7%
February $64,059.84 $65,950.65 $75,989.10 2357.2%
March $66,257.35 $68,265.68 $78,818.31 2448.6%
April $68,454.86 $70,580.71 $81,647.52 2540.1%
May $70,652.36 $72,895.74 $84,476.73 2631.6%
June $72,849.87 $75,210.77 $87,305.95 2723.1%
July $75,047.38 $77,525.79 $90,135.16 2814.6%
August $77,244.88 $79,840.82 $92,964.37 2906.1%
September $79,442.39 $82,155.85 $95,793.58 2997.5%
October $81,639.90 $84,470.88 $98,622.79 3089%
November $83,837.40 $86,785.91 $101,452.01 3180.5%
December $86,034.91 $89,100.94 $104,281.22 3272%
All Time $73,948.62 $76,368.28 $88,720.55 2768.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $88,963.44 $92,293.72 $107,099.99 3363.1%
February $91,891.97 $95,486.51 $109,918.76 3454.3%
March $94,820.50 $98,679.29 $112,737.53 3545.4%
April $97,749.03 $101,872.08 $115,556.30 3636.6%
May $100,677.56 $105,064.86 $118,375.07 3727.7%
June $103,606.10 $108,257.65 $121,193.84 3818.9%
July $106,534.63 $111,450.43 $124,012.61 3910%
August $109,463.16 $114,643.21 $126,831.38 4001.2%
September $112,391.69 $117,836 $129,650.15 4092.3%
October $115,320.22 $121,028.78 $132,468.92 4183.5%
November $118,248.75 $124,221.57 $135,287.69 4274.6%
December $121,177.28 $127,414.35 $138,106.46 4365.8%
All Time $105,070.36 $109,854.04 $122,603.23 3864.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $123,107.80 $129,938.88 $140,556.74 4445%
February $125,038.32 $132,463.40 $143,007.01 4524.2%
March $126,968.84 $134,987.93 $145,457.29 4603.5%
April $128,899.36 $137,512.46 $147,907.57 4682.7%
May $130,829.88 $140,036.98 $150,357.84 4761.9%
June $132,760.41 $142,561.51 $152,808.12 4841.2%
July $134,690.93 $145,086.04 $155,258.40 4920.4%
August $136,621.45 $147,610.56 $157,708.67 4999.6%
September $138,551.97 $150,135.09 $160,158.95 5078.8%
October $140,482.49 $152,659.62 $162,609.23 5158.1%
November $142,413.01 $155,184.14 $165,059.50 5237.3%
December $144,343.53 $157,708.67 $167,509.78 5316.5%
All Time $133,725.67 $143,823.77 $154,033.26 4880.8%

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 Analysis: ETH Fundamentals Remain Strong

As explained in a previous article, Ethereum treads in a parallel channel. However, ETH is facing rejection at the channel’s midpoint unlike the expectation of a breakout to the upside. This development comes as BTC hovers around $100,000 without a directional bias. As BTC continues to tread lower, Ethereum and other altcoins are also likely to follow suit.

The rejection has pushed Ethereum closer to the $3,866 support level. A breakdown of this could send ETH down to the channel’s lower limit around $3,700, which is shaky at best. So investors should keep an eye on $3,371, a stable support level.

ETH/USDT 4-hour chart
ETH/USDT 4-hour chart

Interestingly, the network activity and daily active addresses are stable at six-month highs. This shows strength and investor interest.

ETH network activity & daily active addresses
ETH network activity & daily active addresses

Fruther supporting a strong fundamental development for ETH is the recent spot ETF inflow. Since Novmeber 22, Ethereum ETF inflows have been positive, indicating a strong demand from institutions.

Spot ETH ETF Flows
Spot ETH ETF Flows

All in all, the long-term outlook for Ethereum price continues to remain strong, but the short-term outlook remains bearish with price retracing due to volatility.

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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