Ethereum (ETH) price trades today at $3,287.5 as of 8 PM. Ether prices hit a daily high of $3,418.5 today after rising -1.74% on November 23.
Why is Ethereum Price Rising Today?
After crashing 11% in the past three days, Ethereum price today is up -1.74% 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 Chart Today
*Ethereum price updated as of 8 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 23, 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 $395.9 billion.
Ethereum: The Second-Largest Crypto By Market Cap
Ethereum ranks second in market capitalization, valued at $395.9 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 $39.6 billion.
Ethereum’s Crypto Trading Volume Remains High
The 24-hour trading volume of Ethereum is $39.6 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 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.
Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
2022:
2021:
London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
2020:
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 23, the gas fee for a transaction on the ETH network as of 8 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.
Ethereum Price Outlook For Next 7 Days
| Date | Price | Change |
|---|---|---|
| November 22, 2024 | $3,123.40 | -6.75% |
| November 23, 2024 | $3,147.02 | -6.04% |
| November 24, 2024 | $3,185.08 | -4.9% |
| November 25, 2024 | $3,205.37 | -4.3% |
| November 26, 2024 | $3,189.65 | -4.77% |
Based on CoinGagpe’s Ethereum price predictions, investors can expect ETH to trade around $3,300, a near 6% uptick in the next week. In a month, Ether could be slightly lower at $2,800, slightly higher than from a week ago.
Ethereum Price Outlook From 2025 to 2029
| January | $2,654.08 | $3,516.21 | $3,085.15 | 28% |
| February | $2,647.71 | $3,671.17 | $3,159.44 | 31% |
| March | $2,641.33 | $3,826.13 | $3,233.73 | 34.1% |
| April | $2,634.95 | $3,981.09 | $3,308.02 | 37.2% |
| May | $2,628.57 | $4,136.05 | $3,382.31 | 40.3% |
| June | $2,622.20 | $4,291.01 | $3,456.61 | 43.4% |
| July | $2,615.82 | $4,445.97 | $3,530.90 | 46.4% |
| August | $2,609.44 | $4,600.93 | $3,605.19 | 49.5% |
| September | $2,603.06 | $4,755.89 | $3,679.48 | 52.6% |
| October | $2,596.69 | $4,910.85 | $3,753.77 | 55.7% |
| November | $2,590.31 | $5,065.81 | $3,828.06 | 58.8% |
| December | $2,583.93 | $5,220.77 | $3,902.35 | 61.9% |
| All Time | $2,619.01 | $4,368.49 | $3,493.75 | 44.9% |
| January | $2,804.10 | $5,233.62 | $4,100.07 | 70.1% |
| February | $3,024.28 | $5,246.48 | $4,297.79 | 78.3% |
| March | $3,244.45 | $5,259.33 | $4,495.51 | 86.5% |
| April | $3,464.62 | $5,272.18 | $4,693.23 | 94.7% |
| May | $3,684.79 | $5,285.03 | $4,890.95 | 102.9% |
| June | $3,904.97 | $5,297.89 | $5,088.68 | 111.1% |
| July | $4,125.14 | $5,310.74 | $5,286.40 | 119.3% |
| August | $4,345.31 | $5,323.59 | $5,484.12 | 127.5% |
| September | $4,565.48 | $5,336.44 | $5,681.84 | 135.7% |
| October | $4,785.66 | $5,349.30 | $5,879.56 | 143.9% |
| November | $5,005.83 | $5,362.15 | $6,077.28 | 152.1% |
| December | $5,226 | $5,375 | $6,275 | 160.3% |
| All Time | $4,015.05 | $5,304.31 | $5,187.54 | 115.2% |
| January | $5,417.25 | $5,571.75 | $6,513.75 | 170.2% |
| February | $5,608.50 | $5,768.50 | $6,752.50 | 180.1% |
| March | $5,799.75 | $5,965.25 | $6,991.25 | 190% |
| April | $5,991 | $6,162 | $7,230 | 199.9% |
| May | $6,182.25 | $6,358.75 | $7,468.75 | 209.8% |
| June | $6,373.50 | $6,555.50 | $7,707.50 | 219.7% |
| July | $6,564.75 | $6,752.25 | $7,946.25 | 229.6% |
| August | $6,756 | $6,949 | $8,185 | 239.5% |
| September | $6,947.25 | $7,145.75 | $8,423.75 | 249.4% |
| October | $7,138.50 | $7,342.50 | $8,662.50 | 259.3% |
| November | $7,329.75 | $7,539.25 | $8,901.25 | 269.2% |
| December | $7,521 | $7,736 | $9,140 | 279.1% |
| All Time | $6,469.13 | $6,653.88 | $7,826.88 | 224.6% |
| January | $7,771.92 | $8,001.25 | $9,467.83 | 292.7% |
| February | $8,022.83 | $8,266.50 | $9,795.67 | 306.3% |
| March | $8,273.75 | $8,531.75 | $10,123.50 | 319.9% |
| April | $8,524.67 | $8,797 | $10,451.33 | 333.5% |
| May | $8,775.58 | $9,062.25 | $10,779.17 | 347.1% |
| June | $9,026.50 | $9,327.50 | $11,107 | 360.7% |
| July | $9,277.42 | $9,592.75 | $11,434.83 | 374.3% |
| August | $9,528.33 | $9,858 | $11,762.67 | 387.9% |
| September | $9,779.25 | $10,123.25 | $12,090.50 | 401.5% |
| October | $10,030.17 | $10,388.50 | $12,418.33 | 415.1% |
| November | $10,281.08 | $10,653.75 | $12,746.17 | 428.7% |
| December | $10,532 | $10,919 | $13,074 | 442.3% |
| All Time | $9,151.96 | $9,460.13 | $11,270.92 | 367.5% |
| January | $10,940 | $11,331.17 | $13,534.75 | 461.4% |
| February | $11,348 | $11,743.33 | $13,995.50 | 480.5% |
| March | $11,756 | $12,155.50 | $14,456.25 | 499.6% |
| April | $12,164 | $12,567.67 | $14,917 | 518.7% |
| May | $12,572 | $12,979.83 | $15,377.75 | 537.8% |
| June | $12,980 | $13,392 | $15,838.50 | 556.9% |
| July | $13,388 | $13,804.17 | $16,299.25 | 576% |
| August | $13,796 | $14,216.33 | $16,760 | 595.1% |
| September | $14,204 | $14,628.50 | $17,220.75 | 614.3% |
| October | $14,612 | $15,040.67 | $17,681.50 | 633.4% |
| November | $15,020 | $15,452.83 | $18,142.25 | 652.5% |
| December | $15,428 | $15,865 | $18,603 | 671.6% |
| All Time | $13,184 | $13,598.08 | $16,068.88 | 566.5% |
In a long-term outlook between 2025 and 2029, Ethereum price will end its ongoing slump and kickstart a bull rally. Based on Coingape’s forecasts, Ether prices could hover between $2,500 and $2,700 in 2025 but go as high as $22,900 in 2030.
Ethereum Prices Outlook From 2030 to 2050
2030
2031
2032
2033
2040
2050
| January | $16,092.58 | $16,559.25 | $19,264.08 | 699% |
| February | $16,757.17 | $17,253.50 | $19,925.17 | 726.4% |
| March | $17,421.75 | $17,947.75 | $20,586.25 | 753.8% |
| April | $18,086.33 | $18,642 | $21,247.33 | 781.3% |
| May | $18,750.92 | $19,336.25 | $21,908.42 | 808.7% |
| June | $19,415.50 | $20,030.50 | $22,569.50 | 836.1% |
| July | $20,080.08 | $20,724.75 | $23,230.58 | 863.5% |
| August | $20,744.67 | $21,419 | $23,891.67 | 890.9% |
| September | $21,409.25 | $22,113.25 | $24,552.75 | 918.4% |
| October | $22,073.83 | $22,807.50 | $25,213.83 | 945.8% |
| November | $22,738.42 | $23,501.75 | $25,874.92 | 973.2% |
| December | $23,403 | $24,196 | $26,536 | 1000.6% |
| All Time | $19,747.79 | $20,377.63 | $22,900.04 | 849.8% |
| January | $24,169.83 | $24,997.58 | $27,711.08 | 1049.4% |
| February | $24,936.67 | $25,799.17 | $28,886.17 | 1098.1% |
| March | $25,703.50 | $26,600.75 | $30,061.25 | 1146.8% |
| April | $26,470.33 | $27,402.33 | $31,236.33 | 1195.6% |
| May | $27,237.17 | $28,203.92 | $32,411.42 | 1244.3% |
| June | $28,004 | $29,005.50 | $33,586.50 | 1293.1% |
| July | $28,770.83 | $29,807.08 | $34,761.58 | 1341.8% |
| August | $29,537.67 | $30,608.67 | $35,936.67 | 1390.5% |
| September | $30,304.50 | $31,410.25 | $37,111.75 | 1439.3% |
| October | $31,071.33 | $32,211.83 | $38,286.83 | 1488% |
| November | $31,838.17 | $33,013.42 | $39,461.92 | 1536.7% |
| December | $32,605 | $33,815 | $40,637 | 1585.5% |
| All Time | $28,387.42 | $29,406.29 | $34,174.04 | 1317.4% |
| January | $33,881.25 | $35,131.33 | $42,063 | 1644.6% |
| February | $35,157.50 | $36,447.67 | $43,489 | 1703.8% |
| March | $36,433.75 | $37,764 | $44,915 | 1762.9% |
| April | $37,710 | $39,080.33 | $46,341 | 1822.1% |
| May | $38,986.25 | $40,396.67 | $47,767 | 1881.2% |
| June | $40,262.50 | $41,713 | $49,193 | 1940.4% |
| July | $41,538.75 | $43,029.33 | $50,619 | 1999.5% |
| August | $42,815 | $44,345.67 | $52,045 | 2058.6% |
| September | $44,091.25 | $45,662 | $53,471 | 2117.8% |
| October | $45,367.50 | $46,978.33 | $54,897 | 2176.9% |
| November | $46,643.75 | $48,294.67 | $56,323 | 2236.1% |
| December | $47,920 | $49,611 | $57,749 | 2295.2% |
| All Time | $40,900.63 | $42,371.17 | $49,906 | 1969.9% |
| January | $49,768.50 | $51,484 | $59,820.33 | 2381.1% |
| February | $51,617 | $53,357 | $61,891.67 | 2467.1% |
| March | $53,465.50 | $55,230 | $63,963 | 2553% |
| April | $55,314 | $57,103 | $66,034.33 | 2638.9% |
| May | $57,162.50 | $58,976 | $68,105.67 | 2724.8% |
| June | $59,011 | $60,849 | $70,177 | 2810.7% |
| July | $60,859.50 | $62,722 | $72,248.33 | 2896.6% |
| August | $62,708 | $64,595 | $74,319.67 | 2982.5% |
| September | $64,556.50 | $66,468 | $76,391 | 3068.4% |
| October | $66,405 | $68,341 | $78,462.33 | 3154.3% |
| November | $68,253.50 | $70,214 | $80,533.67 | 3240.3% |
| December | $70,102 | $72,087 | $82,605 | 3326.2% |
| All Time | $59,935.25 | $61,785.50 | $71,212.67 | 2853.7% |
| January | $72,550.17 | $75,090.58 | $85,513 | 3446.8% |
| February | $74,998.33 | $78,094.17 | $88,421 | 3567.4% |
| March | $77,446.50 | $81,097.75 | $91,329 | 3688% |
| April | $79,894.67 | $84,101.33 | $94,237 | 3808.6% |
| May | $82,342.83 | $87,104.92 | $97,145 | 3929.2% |
| June | $84,791 | $90,108.50 | $100,053 | 4049.9% |
| July | $87,239.17 | $93,112.08 | $102,961 | 4170.5% |
| August | $89,687.33 | $96,115.67 | $105,869 | 4291.1% |
| September | $92,135.50 | $99,119.25 | $108,777 | 4411.7% |
| October | $94,583.67 | $102,122.83 | $111,685 | 4532.3% |
| November | $97,031.83 | $105,126.42 | $114,593 | 4652.9% |
| December | $99,480 | $108,130 | $117,501 | 4773.5% |
| All Time | $86,015.08 | $91,610.29 | $101,507 | 4110.2% |
| January | $102,603.75 | $110,953.42 | $120,084.17 | 4880.7% |
| February | $105,727.50 | $113,776.83 | $122,667.33 | 4987.8% |
| March | $108,851.25 | $116,600.25 | $125,250.50 | 5095% |
| April | $111,975 | $119,423.67 | $127,833.67 | 5202.1% |
| May | $115,098.75 | $122,247.08 | $130,416.83 | 5309.2% |
| June | $118,222.50 | $125,070.50 | $133,000 | 5416.4% |
| July | $121,346.25 | $127,893.92 | $135,583.17 | 5523.5% |
| August | $124,470 | $130,717.33 | $138,166.33 | 5630.7% |
| September | $127,593.75 | $133,540.75 | $140,749.50 | 5737.8% |
| October | $130,717.50 | $136,364.17 | $143,332.67 | 5844.9% |
| November | $133,841.25 | $139,187.58 | $145,915.83 | 5952.1% |
| December | $136,965 | $142,011 | $148,499 | 6059.2% |
| All Time | $119,784.38 | $126,482.21 | $134,291.58 | 5470% |
Between 2023 and 2050, Ethereum’s price will most likely follow the bullish outlook and aim for the six-digit territory. The highest price of Ether in 2050, based on CoinGape forecasts, is $126,482.21.
Ethereum Price Analysis: ETH at Make-or-Break Point
Ethereum price today trades at $3,287.5 just below the $3,300 to $3,500 resistance zone. After the failed initial attempt ten days ago, ETH is trying to overcome this critical hurdle.
Investors can expect one of two outcomes – a flip of the hurdle leading to a rally to $4,000 or a rejection leading to a correction that retests $3,000. What will happen with ETH at this make-or-break point?
The Relative Strength Index (RSI) is at retracing after visiting the overbought zone ten days ago. Typically, this outlook often leads to a retest of the 50 mean level, ideally serving as a strong reversal level. If ETH needs to break out above the aforementioned resistance levels, then a retest of the RSI’s 50 mean level is needed.
Considering that Bitcoin could hit $100k and catalyze a short-term correction over the next three days, ETH could likely face rejection at the $3,300 to $3,500 resistance levels. Considering Ethereum’s lackluster 2024 performance, it wouldn’t be surprising if it corrects 8% and revisits $3,000 before $4,000.
On the other hand, if Bitcoin fails to correct and continues to rally beyond $100k, then Ethereum price could follow its path. Such a development could see ETH flip $3,500 into a support floor, indicating that the next rally will allow it to revisit $4,000.
Source: https://coingape.com/ethereum-eth-price-today-22-november-2024/