Ethereum Price Crashes 4%, ETH Trades Today at $4,020.7

Uncover what beholds Ethereum price today as it slides 4%. Will ETH bounce from $4,000 and hit a new ATH? Will profit-taking trigger crash?
By Akash Girimath
December 18, 2024 | Updated December 18, 2024
Top Reasons Why Ethereum Price is Down Today?

Highlights

  • Ethereum price is down 4% today and trades at $4,020.
  • If bullish momentum exhausts, ETH could trigger a correction to $3,000.
  • A bounce off $4,000 has the potential to propel Ether to a new ATH of $5,274.

Ethereum price today trades at $3,651.4 as of 11 PM. The drop comes after ETH hit a daily high of $3,900.4 after -5.75% move on October 19.

Why is Ethereum Price Today is Down?

As noted in a pervious CoinGape article, Ethereum price is facing a tough hurdle as it trades inside parallel channel. The midpoint of this pattern has prevented ETH from going higher for the past five days. Still, Ether continues to trade around $4,000 supported by the $3,900 level. As long as this barrier holds a further crash is unlikely.

How will this drop impact Ether prices? Let’s find out.

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

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 $440.0 billion, after Bitcoin’s $2 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 $50.4 billion.

Ethereum’s Crypto Trading Volume Soars

The 24-hour trading volume of Ethereum is $50.4 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 Blockchain’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).

Key Ethereum Blockchain Upgrades

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 October 19, the gas fee for a transaction on the ETH network as of 11 PM is 12 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.

Advertisement

What Will Ethereum Price Be In The Next 7 Days?

Date Price Change
October 19, 20253854.86-0.55%
October 20, 20253898.150.57%
October 21, 20253978.582.64%
October 22, 20254141.156.83%
October 23, 20254252.509.71%
October 24, 20254332.8211.78%
October 25, 20254225.819.02%
October 26, 20254143.566.9%
October 27, 20254178.137.79%
October 28, 20254288.3210.63%
October 29, 20254458.7215.03%
October 30, 20254540.0217.12%
October 31, 20254602.7818.74%
November 01, 20254642.6519.77%
November 02, 20254637.8619.65%
November 03, 20254586.7318.33%
November 04, 20254542.7017.19%
November 05, 20254488.9715.81%
November 06, 20254345.7312.11%
November 07, 20254194.728.22%
November 08, 20254033.214.05%
November 09, 20254020.573.72%
November 10, 20254058.184.69%
November 11, 20254033.244.05%
November 12, 20254023.973.81%
November 13, 20254042.724.3%
November 14, 20254087.185.44%
November 15, 20254144.296.92%
November 16, 20254234.739.25%
November 17, 20254305.4211.07%

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 $4,062.04 $4,632.96 $4,347.50 12.6%
February $3,936.03 $4,623.28 $4,279.66 10.8%
March $3,810.03 $4,613.59 $4,211.81 9.1%
April $3,684.02 $4,603.90 $4,143.97 7.3%
May $3,558.02 $4,594.22 $4,076.12 5.6%
June $3,432.02 $4,584.53 $4,008.28 3.8%
July $3,306.01 $4,574.84 $3,940.43 2.1%
August $3,180.01 $4,565.16 $3,872.58 0.30%
September $3,054 $4,555.47 $3,804.74 -1.5%
October $2,928 $4,545.78 $3,736.89 -3.2%
November $2,801.99 $4,536.10 $3,669.05 -5%
December $2,675.99 $4,526.41 $3,601.20 -6.7%
All Time $3,369.01 $4,579.69 $3,974.35 2.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,207.82 $4,926.46 $4,276.93 10.8%
February $3,739.66 $5,326.51 $4,952.67 28.3%
March $4,271.49 $5,726.56 $5,628.40 45.8%
April $4,803.33 $6,126.61 $6,304.13 63.3%
May $5,335.16 $6,526.66 $6,979.87 80.8%
June $5,867 $6,926.71 $7,655.60 98.3%
July $6,398.83 $7,326.75 $8,331.33 115.8%
August $6,930.66 $7,726.80 $9,007.07 133.3%
September $7,462.50 $8,126.85 $9,682.80 150.8%
October $7,994.33 $8,526.90 $10,358.53 168.3%
November $8,526.17 $8,926.95 $11,034.27 185.8%
December $9,058 $9,327 $11,710 203.3%
All Time $6,132.91 $7,126.73 $7,993.47 107%
Month Minimum Price Average Price Maximum Price Potential ROI
January $9,393.58 $9,679.08 $12,045.17 212%
February $9,729.17 $10,031.17 $12,380.33 220.7%
March $10,064.75 $10,383.25 $12,715.50 229.3%
April $10,400.33 $10,735.33 $13,050.67 238%
May $10,735.92 $11,087.42 $13,385.83 246.7%
June $11,071.50 $11,439.50 $13,721 255.4%
July $11,407.08 $11,791.58 $14,056.17 264.1%
August $11,742.67 $12,143.67 $14,391.33 272.7%
September $12,078.25 $12,495.75 $14,726.50 281.4%
October $12,413.83 $12,847.83 $15,061.67 290.1%
November $12,749.42 $13,199.92 $15,396.83 298.8%
December $13,085 $13,552 $15,732 307.5%
All Time $11,239.29 $11,615.54 $13,888.58 259.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $13,563.08 $14,047.67 $16,309.92 322.4%
February $14,041.17 $14,543.33 $16,887.83 337.4%
March $14,519.25 $15,039 $17,465.75 352.4%
April $14,997.33 $15,534.67 $18,043.67 367.3%
May $15,475.42 $16,030.33 $18,621.58 382.3%
June $15,953.50 $16,526 $19,199.50 397.3%
July $16,431.58 $17,021.67 $19,777.42 412.2%
August $16,909.67 $17,517.33 $20,355.33 427.2%
September $17,387.75 $18,013 $20,933.25 442.2%
October $17,865.83 $18,508.67 $21,511.17 457.1%
November $18,343.92 $19,004.33 $22,089.08 472.1%
December $18,822 $19,500 $22,667 487.1%
All Time $16,192.54 $16,773.83 $19,488.46 404.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $19,526.50 $20,213 $23,522.92 509.2%
February $20,231 $20,926 $24,378.83 531.4%
March $20,935.50 $21,639 $25,234.75 553.6%
April $21,640 $22,352 $26,090.67 575.7%
May $22,344.50 $23,065 $26,946.58 597.9%
June $23,049 $23,778 $27,802.50 620.1%
July $23,753.50 $24,491 $28,658.42 642.3%
August $24,458 $25,204 $29,514.33 664.4%
September $25,162.50 $25,917 $30,370.25 686.6%
October $25,867 $26,630 $31,226.17 708.8%
November $26,571.50 $27,343 $32,082.08 730.9%
December $27,276 $28,056 $32,938 753.1%
All Time $23,401.25 $24,134.50 $28,230.46 631.2%

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 $28,417.17 $29,249.08 $34,130.33 784%
February $29,558.33 $30,442.17 $35,322.67 814.9%
March $30,699.50 $31,635.25 $36,515 845.7%
April $31,840.67 $32,828.33 $37,707.33 876.6%
May $32,981.83 $34,021.42 $38,899.67 907.5%
June $34,123 $35,214.50 $40,092 938.4%
July $35,264.17 $36,407.58 $41,284.33 969.3%
August $36,405.33 $37,600.67 $42,476.67 1000.1%
September $37,546.50 $38,793.75 $43,669 1031%
October $38,687.67 $39,986.83 $44,861.33 1061.9%
November $39,828.83 $41,179.92 $46,053.67 1092.8%
December $40,970 $42,373 $47,246 1123.7%
All Time $34,693.58 $35,811.04 $40,688.17 953.8%
Month Minimum Price Average Price Maximum Price Potential ROI
January $42,748 $44,175.33 $49,253.67 1175.7%
February $44,526 $45,977.67 $51,261.33 1227.7%
March $46,304 $47,780 $53,269 1279.7%
April $48,082 $49,582.33 $55,276.67 1331.7%
May $49,860 $51,384.67 $57,284.33 1383.7%
June $51,638 $53,187 $59,292 1435.7%
July $53,416 $54,989.33 $61,299.67 1487.7%
August $55,194 $56,791.67 $63,307.33 1539.7%
September $56,972 $58,594 $65,315 1591.7%
October $58,750 $60,396.33 $67,322.67 1643.7%
November $60,528 $62,198.67 $69,330.33 1695.7%
December $62,306 $64,001 $71,338 1747.7%
All Time $52,527 $54,088.17 $60,295.83 1461.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $64,523 $66,343.42 $74,533 1830.4%
February $66,740 $68,685.83 $77,728 1913.2%
March $68,957 $71,028.25 $80,923 1995.9%
April $71,174 $73,370.67 $84,118 2078.7%
May $73,391 $75,713.08 $87,313 2161.4%
June $75,608 $78,055.50 $90,508 2244.2%
July $77,825 $80,397.92 $93,703 2326.9%
August $80,042 $82,740.33 $96,898 2409.7%
September $82,259 $85,082.75 $100,093 2492.4%
October $84,476 $87,425.17 $103,288 2575.2%
November $86,693 $89,767.58 $106,483 2657.9%
December $88,910 $92,110 $109,678 2740.7%
All Time $76,716.50 $79,226.71 $92,105.50 2285.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $92,565.75 $95,806.17 $113,497.58 2839.6%
February $96,221.50 $99,502.33 $117,317.17 2938.5%
March $99,877.25 $103,198.50 $121,136.75 3037.4%
April $103,533 $106,894.67 $124,956.33 3136.4%
May $107,188.75 $110,590.83 $128,775.92 3235.3%
June $110,844.50 $114,287 $132,595.50 3334.2%
July $114,500.25 $117,983.17 $136,415.08 3433.2%
August $118,156 $121,679.33 $140,234.67 3532.1%
September $121,811.75 $125,375.50 $144,054.25 3631%
October $125,467.50 $129,071.67 $147,873.83 3729.9%
November $129,123.25 $132,767.83 $151,693.42 3828.9%
December $132,779 $136,464 $155,513 3927.8%
All Time $112,672.38 $116,135.08 $134,505.29 3383.7%
Month Minimum Price Average Price Maximum Price Potential ROI
January $138,430.92 $142,604.83 $161,658.50 4087%
February $144,082.83 $148,745.67 $167,804 4246.1%
March $149,734.75 $154,886.50 $173,949.50 4405.3%
April $155,386.67 $161,027.33 $180,095 4564.5%
May $161,038.58 $167,168.17 $186,240.50 4723.6%
June $166,690.50 $173,309 $192,386 4882.8%
July $172,342.42 $179,449.83 $198,531.50 5042%
August $177,994.33 $185,590.67 $204,677 5201.1%
September $183,646.25 $191,731.50 $210,822.50 5360.3%
October $189,298.17 $197,872.33 $216,968 5519.5%
November $194,950.08 $204,013.17 $223,113.50 5678.6%
December $200,602 $210,154 $229,259 5837.8%
All Time $169,516.46 $176,379.42 $195,458.75 4962.4%
Month Minimum Price Average Price Maximum Price Potential ROI
January $204,695.92 $214,134.25 $233,011.75 5935%
February $208,789.83 $218,114.50 $236,764.50 6032.2%
March $212,883.75 $222,094.75 $240,517.25 6129.4%
April $216,977.67 $226,075 $244,270 6226.6%
May $221,071.58 $230,055.25 $248,022.75 6323.8%
June $225,165.50 $234,035.50 $251,775.50 6421%
July $229,259.42 $238,015.75 $255,528.25 6518.2%
August $233,353.33 $241,996 $259,281 6615.4%
September $237,447.25 $245,976.25 $263,033.75 6712.6%
October $241,541.17 $249,956.50 $266,786.50 6809.8%
November $245,635.08 $253,936.75 $270,539.25 6907%
December $249,729 $257,917 $274,292 7004.2%
All Time $227,212.46 $236,025.63 $253,651.88 6469.6%

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 Technical Analysis: 

The Visible Range Volume Profile (VPVR) shows that Ethereum price is currently bouncing off the high volume node (HVN) at $3,890. This support level has prevented a steep correction for ETH. With Bitcoin sucking the liquidity, altcoins have been unable to perform. If this trend continue, Ethereum buyers might not sustain for long, leading to a drop to the next key support levels at $3,700 & 3,500.

A bounce at any of these levels could trigger a run-up that pushes ETH to the upper range of the current parallel channel at $4,500. In a highly bullish case, Ethereum price could set up a new ATH of $5,274.

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

Furthermore, data from IntoTheBlock, shows that 96% of ETH holders are in profit and only 1.15% are at breakeven, with the remaining 1.6% in loss. The Global In/Out of the Money indicator shows that the $3.6k to $3.8k range is the next key support zone. Here, roughly 4.1 million addresses purchased 4.78 million ETH and are likely to buy more if the price dips lower.

ETH GIOM
ETH GIOM

All in all, the outlook for Ethereum looks uncertain due to the reliance on Bitcoin for directional cues. If Ethereum price breaches the $3,090 support level, it could catalyze a spike in selling pressure that leads to a 13% crash that retests the $3.371 support floor.

A decisive breakdown of this critical support level will invalidate the bullish outlook and potentially indicate that ETH will slide below $3,000 level.

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.
Methodology

CoinGape prepared a review methodology to rate crypto exchanges, tools, and apps. We curated a list of metrics to evaluate crypto platforms based on their services, user experience, security and customer support, payment gateways and charges, pricing and promotions. Visit our Review Methodology page to learn more about how we review each crypto platform.

This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount you can afford to lose.