Ethereum Price Today: ETH Needs to do This For $5,000

Explore what Ethereum price today is doing and what needs to happen for ETH to trigger a rally to $5,000 instead of crashing to $3,000.
By Akash Girimath
November 23, 2024 | Updated November 23, 2024
Analyst Outlines Buying Opportunity Before Ethereum (ETH) Price Skyrockets to $3,000

Highlights

  • Ethereum price today is up 0.95% and is likely to continue its ascent.
  • If Bitcoin hits $100,000 ETH could follow its suit and clear key resistance level of $3,500.
  • A successful breakout could send Ether to $5,000.

Ethereum (ETH) price trades today at $3,399.2 as of 11 PM. Ether prices hit a daily high of $3,489.9 today after rising 2.21% on November 6.

Why is Ethereum Price Rising Today?

After crashing 11% in the past three days, Ethereum price today is up 2.21% and trades at $3,042. As of November 16, there are promising signs that the value of ETH could continue heading higher and tag key resistance levels.

Ethereum Price Today Ethereum Price Today

Ethereum Price Chart 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 & Historical Data

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 November 6, 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 $409.0 billion.

Ethereum: The Second-Largest Crypto By Market Cap

Ethereum ranks second in market capitalization, valued at $409.0 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 $41.7 billion.

Ethereum’s Crypto Trading Volume Remains High

The 24-hour trading volume of Ethereum is $41.7 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 Shifts From PoW to PoS

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 Upgrades in The Past Five Years

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 & Its Effect on Ethereum Price

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 November 6, the gas fee for a transaction on the ETH network as of 11 PM is 15.84 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 Week

Date Price Change
November 05, 20253495.25-0.65%
November 06, 20253534.850.48%
November 07, 20253608.432.57%
November 08, 20253757.176.8%
November 09, 20253859.049.69%
November 10, 20253932.5311.78%
November 11, 20253834.639%
November 12, 20253759.376.86%
November 13, 20253791.017.76%
November 14, 20253891.8210.62%
November 15, 20254047.7115.05%
November 16, 20254122.0917.17%
November 17, 20254179.5118.8%
November 18, 20254215.9919.84%
November 19, 20254211.6119.71%
November 20, 20254164.8318.38%
November 21, 20254124.5417.24%
November 22, 20254075.3915.84%
November 23, 20253944.3412.12%
November 24, 20253806.198.19%
November 25, 20253658.423.99%
November 26, 20253646.853.66%
November 27, 20253681.264.64%
November 28, 20253658.443.99%
November 29, 20253649.963.75%
November 30, 20253667.124.24%
December 01, 20253707.795.39%
December 02, 20253760.046.88%
December 03, 20253842.799.23%
December 04, 20253907.4611.07%

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.

How High Can Ethereum Price Go Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $3,764.02 $4,216.26 $3,990.14 13.6%
February $3,608.61 $4,216.52 $3,912.57 11.4%
March $3,453.20 $4,216.79 $3,834.99 9.2%
April $3,297.78 $4,217.05 $3,757.42 7%
May $3,142.37 $4,217.32 $3,679.85 4.8%
June $2,986.96 $4,217.59 $3,602.28 2.6%
July $2,831.55 $4,217.85 $3,524.70 0.39%
August $2,676.14 $4,218.12 $3,447.13 -1.8%
September $2,520.73 $4,218.38 $3,369.56 -4%
October $2,365.31 $4,218.65 $3,291.99 -6.2%
November $2,209.90 $4,218.91 $3,214.41 -8.4%
December $2,054.49 $4,219.18 $3,136.84 -10.7%
All Time $2,909.25 $4,217.72 $3,563.49 1.5%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,638.12 $4,644.83 $3,851.27 9.7%
February $3,221.74 $5,070.48 $4,565.70 30%
March $3,805.37 $5,496.14 $5,280.13 50.4%
April $4,388.99 $5,921.79 $5,994.56 70.7%
May $4,972.62 $6,347.44 $6,708.99 91.1%
June $5,556.25 $6,773.09 $7,423.42 111.4%
July $6,139.87 $7,198.74 $8,137.85 131.8%
August $6,723.50 $7,624.39 $8,852.28 152.1%
September $7,307.12 $8,050.05 $9,566.71 172.5%
October $7,890.75 $8,475.70 $10,281.14 192.8%
November $8,474.37 $8,901.35 $10,995.57 213.2%
December $9,058 $9,327 $11,710 233.5%
All Time $5,848.06 $6,985.92 $7,780.64 121.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $9,393.58 $9,679.08 $12,045.17 243.1%
February $9,729.17 $10,031.17 $12,380.33 252.6%
March $10,064.75 $10,383.25 $12,715.50 262.2%
April $10,400.33 $10,735.33 $13,050.67 271.7%
May $10,735.92 $11,087.42 $13,385.83 281.3%
June $11,071.50 $11,439.50 $13,721 290.8%
July $11,407.08 $11,791.58 $14,056.17 300.3%
August $11,742.67 $12,143.67 $14,391.33 309.9%
September $12,078.25 $12,495.75 $14,726.50 319.4%
October $12,413.83 $12,847.83 $15,061.67 329%
November $12,749.42 $13,199.92 $15,396.83 338.5%
December $13,085 $13,552 $15,732 348.1%
All Time $11,239.29 $11,615.54 $13,888.58 295.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $13,563.08 $14,047.67 $16,309.92 364.5%
February $14,041.17 $14,543.33 $16,887.83 381%
March $14,519.25 $15,039 $17,465.75 397.5%
April $14,997.33 $15,534.67 $18,043.67 413.9%
May $15,475.42 $16,030.33 $18,621.58 430.4%
June $15,953.50 $16,526 $19,199.50 446.8%
July $16,431.58 $17,021.67 $19,777.42 463.3%
August $16,909.67 $17,517.33 $20,355.33 479.8%
September $17,387.75 $18,013 $20,933.25 496.2%
October $17,865.83 $18,508.67 $21,511.17 512.7%
November $18,343.92 $19,004.33 $22,089.08 529.1%
December $18,822 $19,500 $22,667 545.6%
All Time $16,192.54 $16,773.83 $19,488.46 455.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $19,526.50 $20,213 $23,522.92 570%
February $20,231 $20,926 $24,378.83 594.4%
March $20,935.50 $21,639 $25,234.75 618.7%
April $21,640 $22,352 $26,090.67 643.1%
May $22,344.50 $23,065 $26,946.58 667.5%
June $23,049 $23,778 $27,802.50 691.9%
July $23,753.50 $24,491 $28,658.42 716.2%
August $24,458 $25,204 $29,514.33 740.6%
September $25,162.50 $25,917 $30,370.25 765%
October $25,867 $26,630 $31,226.17 789.4%
November $26,571.50 $27,343 $32,082.08 813.8%
December $27,276 $28,056 $32,938 838.1%
All Time $23,401.25 $24,134.50 $28,230.46 704.1%

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 Forecast 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 $34,130.33 872.1%
February $29,558.33 $30,442.17 $35,322.67 906.1%
March $30,699.50 $31,635.25 $36,515 940%
April $31,840.67 $32,828.33 $37,707.33 974%
May $32,981.83 $34,021.42 $38,899.67 1007.9%
June $34,123 $35,214.50 $40,092 1041.9%
July $35,264.17 $36,407.58 $41,284.33 1075.9%
August $36,405.33 $37,600.67 $42,476.67 1109.8%
September $37,546.50 $38,793.75 $43,669 1143.8%
October $38,687.67 $39,986.83 $44,861.33 1177.7%
November $39,828.83 $41,179.92 $46,053.67 1211.7%
December $40,970 $42,373 $47,246 1245.7%
All Time $34,693.58 $35,811.04 $40,688.17 1058.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $42,748 $44,175.33 $49,253.67 1302.8%
February $44,526 $45,977.67 $51,261.33 1360%
March $46,304 $47,780 $53,269 1417.2%
April $48,082 $49,582.33 $55,276.67 1474.4%
May $49,860 $51,384.67 $57,284.33 1531.6%
June $51,638 $53,187 $59,292 1588.7%
July $53,416 $54,989.33 $61,299.67 1645.9%
August $55,194 $56,791.67 $63,307.33 1703.1%
September $56,972 $58,594 $65,315 1760.3%
October $58,750 $60,396.33 $67,322.67 1817.5%
November $60,528 $62,198.67 $69,330.33 1874.7%
December $62,306 $64,001 $71,338 1931.8%
All Time $52,527 $54,088.17 $60,295.83 1617.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $64,523 $66,343.42 $74,533 2022.8%
February $66,740 $68,685.83 $77,728 2113.8%
March $68,957 $71,028.25 $80,923 2204.8%
April $71,174 $73,370.67 $84,118 2295.8%
May $73,391 $75,713.08 $87,313 2386.8%
June $75,608 $78,055.50 $90,508 2477.8%
July $77,825 $80,397.92 $93,703 2568.8%
August $80,042 $82,740.33 $96,898 2659.8%
September $82,259 $85,082.75 $100,093 2750.8%
October $84,476 $87,425.17 $103,288 2841.8%
November $86,693 $89,767.58 $106,483 2932.8%
December $88,910 $92,110 $109,678 3023.8%
All Time $76,716.50 $79,226.71 $92,105.50 2523.3%
Month Minimum Price Average Price Maximum Price Potential ROI
January $92,565.75 $95,806.17 $113,497.58 3132.6%
February $96,221.50 $99,502.33 $117,317.17 3241.4%
March $99,877.25 $103,198.50 $121,136.75 3350.2%
April $103,533 $106,894.67 $124,956.33 3459%
May $107,188.75 $110,590.83 $128,775.92 3567.8%
June $110,844.50 $114,287 $132,595.50 3676.6%
July $114,500.25 $117,983.17 $136,415.08 3785.4%
August $118,156 $121,679.33 $140,234.67 3894.2%
September $121,811.75 $125,375.50 $144,054.25 4002.9%
October $125,467.50 $129,071.67 $147,873.83 4111.7%
November $129,123.25 $132,767.83 $151,693.42 4220.5%
December $132,779 $136,464 $155,513 4329.3%
All Time $112,672.38 $116,135.08 $134,505.29 3731%
Month Minimum Price Average Price Maximum Price Potential ROI
January $138,430.92 $142,604.83 $161,658.50 4504.3%
February $144,082.83 $148,745.67 $167,804 4679.4%
March $149,734.75 $154,886.50 $173,949.50 4854.4%
April $155,386.67 $161,027.33 $180,095 5029.5%
May $161,038.58 $167,168.17 $186,240.50 5204.5%
June $166,690.50 $173,309 $192,386 5379.5%
July $172,342.42 $179,449.83 $198,531.50 5554.6%
August $177,994.33 $185,590.67 $204,677 5729.6%
September $183,646.25 $191,731.50 $210,822.50 5904.6%
October $189,298.17 $197,872.33 $216,968 6079.7%
November $194,950.08 $204,013.17 $223,113.50 6254.7%
December $200,602 $210,154 $229,259 6429.7%
All Time $169,516.46 $176,379.42 $195,458.75 5467%
Month Minimum Price Average Price Maximum Price Potential ROI
January $204,695.92 $214,134.25 $233,011.75 6536.6%
February $208,789.83 $218,114.50 $236,764.50 6643.5%
March $212,883.75 $222,094.75 $240,517.25 6750.4%
April $216,977.67 $226,075 $244,270 6857.3%
May $221,071.58 $230,055.25 $248,022.75 6964.2%
June $225,165.50 $234,035.50 $251,775.50 7071%
July $229,259.42 $238,015.75 $255,528.25 7177.9%
August $233,353.33 $241,996 $259,281 7284.8%
September $237,447.25 $245,976.25 $263,033.75 7391.7%
October $241,541.17 $249,956.50 $266,786.50 7498.6%
November $245,635.08 $253,936.75 $270,539.25 7605.5%
December $249,729 $257,917 $274,292 7712.4%
All Time $227,212.46 $236,025.63 $253,651.88 7124.5%

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.

Here’s What Needs to Happen Ethereum Price to Hit $5,000

Ethereum price trades below the $3,300 and $3,500 resistance levels. As discussed yesterday, a breach of this key hurdle will help with ETH’s directional bias. As seen in the below chart, the bullish momentum seems to be picking up, leading to a breakout attempt. For a successful move, Ether needs to flip $3,500 into a support level. Such a development will signal that the buyers are back and will open the path for the next key hurdle, $4,000, roughly 15% away.

In case of a strong spike in buying pressure then Ethereum price could continue its ascent toward the next key levels – $4,500 and $5,000. A retest of $5,000 would need a 42% rally from the $3,500 level.

So, a flip of $3,500 is key for ETH to hit the $5,000 psychological level.

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

On the other hand, if Ethereum price gets rejected at $3,500 or $3,300, it would signal weakness. Such a development would indicate that the buyers are not ready, and investors could likely be booking profits. Investors can expect a 13% correction that retests $3,000 in this outlook. Here, buyers can recuperate before giving $3,500 another go.

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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