Connect with us

ETH Price

Is Ethereum Price $4K Rally at Risk Amid Pectra Upgrade Division Talks?

Published

on


Ethereum price plunged 0.21% to $2411 during a less volatile weekend. The modest downtick can be attributed to market uncertainty as Ethereum developers consider splitting the highly anticipated Pectra upgrade. Will the split affect the ETH rally to $4000?

Will Ethereum Price Rally Stall as Pectra Upgrade Faces Division?

The Ethereum developers are considering splitting the highlighted anticipated Pectra upgrade, which is set to enhance the network’s scalability, security, and efficiency, into two distinct parts to meet the 2025 deadline.

Christine Kim, a researcher at Galaxy Digital, believes “the scope of the Pectra upgrade could change drastically if devs decide to split it across two hard forks.”

The plan includes dividing the 20 Ethereum Improvement Proposals (EIPs), with some additional updates still under review. Kim noted the first part could be released by February 2025 and is focused on significant changes to the network’s execution layer and consensus layer.

The second phase will prioritize implementing the Ethereum Virtual Machine (EVM) Object Format (EOF) and PeerDAS, which will further optimize Ethereum’s efficiency and scalability.

This proposal will be finalized in next Thursday’s All Core Devs call. While the Ethereum price could witness initial volatility, the two-stage update reflects developers’ dedication to ensuring a successful Pectra upgrade, which may boost bullish momentum.

According to the Santiment data, the 30-day MVRV ratio at -1.75 accentuates that short-term ETH holders are witnessing loss. This negative value often coincides with a potential price jump as the typical speculative trader exits the market at a loss, while large holders use this opportunity to accumulate.

Ethereum (ETH) priceEthereum (ETH) price
30-day MVRV Ratio | Santiment

ETH Price Heading For Key Resistance Breakout

The Ethereum price daily chart shows a V-shaped reversal from $2,150 to $2,440, registering a 13.4% growth. This second reversal within five weeks accentuates the active demand pressure around the $2,000 psychological level, which pushed the ETH price above a critical downsloping resistance. 

While the weekend volatility allows buyers to retest the breached resistance, the post-breakout rally could bolster a 17% rally to challenge the $2,800 resistance. A successful breach of this barrier will set the Ethereum price prediction target at $3,550, followed by $4,100.

Ethereum PriceEthereum Price
ETH/USDT -1d Chart

However, a negative alignment in daily exponential moving averages (20, 50, 100, and 200) and  Metalpha’s $90M ETH sale has accelerated overhead selling. If the $2,800 resistance holds firm, the ETH price could prolong its current consolidation and may revisit the $2,000 bottom support.

Frequently Asked Questions (FAQs)

The potential split of the Pectra upgrade may create initial market volatility, but developers remain committed to ensuring a successful upgrade, which could boost recovery momentum.

Ethereum developers are planning to split the Pectra upgrade to reduce complexity and meet the 2025 deadline, implementing the changes in two phases

The key resistance level for Ethereum is around $2,800, with a potential price target of $3,550 to $4,100.

✓ Share:

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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.





Source link

Analyst

Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance

Published

on



Este artículo también está disponible en español.

The Ethereum price could face some turbulence, as Justin Sun, the founder of Tron (TRX), has unstaked a whopping $209 million from Lido Finance, a liquid decentralized staking platform for Ethereum. Compared to top cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), the Ethereum price has had a relatively muted performance, skyrocketing to $4,000 before consolidating and struggling to move higher. With the possibility of more sell-offs, Ethereum could see its price crashing down if Sun decides to dump more coins. 

Justin Sun Dumps ETH

New reports from Spot On Chain, an AI-driven crypto platform, revealed that Sun recently applied to withdraw a staggering 52,905 ETH tokens worth about $209 million from Lido Finance. According to the on-chain data, this massive withdrawal was part of the ETH stash Sun allegedly accumulated between February and August 2024.

Spot On Chain has revealed that the total amount of Ethereum Sun bought within this period amounted to 392,474 ETH tokens, valued at $1.19 billion. All of these tokens were purchased via three wallet addresses at an average price of $3,027. Presently, the total profit the Tron founder has acquired since his purchase is up to $349 million, representing a 29% increase from its purchasing price. 

Ethereum price 1
Source: X

Interestingly, on October 24, Sun had unstaked a massive 80,251 ETH tokens, worth over $131 million, from Lido Finance. Four days later, he transferred the entire amount to Binance, the world’s largest crypto exchange. This notable move took place just before the price of Ethereum had dropped sharply by 5% in mid-October, which could have resulted in a loss for Sun.

Ethereum price 2
Source: X

Unsurprisingly, this is not the first time Sun has dumped Ethereum. Spot On Chain revealed earlier this month that the Tron Founder had been cashing in his Ethereum holdings during the market rally. 

In November, Sun deposited 19,000 ETH worth $60.83 million to HTX, a crypto exchange. Additionally, he transferred 29,920 ETH valued at $119.7 million to HTX again after its price surpassed $4,000 over the past week. These are just a few transactions the Tron founder has made with ETH over the past month.

Given Sun’s history of large-scale asset movements, further sell-offs could impact the already fragile Ethereum market. Nevertheless, the lingering question remains whether the Tron founder will continue his Ethereum dumping spree.

Ethereum Price Crash Ahead?

While Sun has not publicly commented on his recent large-scale Ethereum withdrawals, the size and timing of these transactions could pose a problem for the altcoin’s future trajectory. Historically, large ETH liquidations have triggered a price crash due to increasing selling pressures.

With the price of Ethereum still unstable and aiming for a stronger upward rally, further large-scale ETH dumps could exacerbate market volatility, especially if other investors or whales follow suit. For now, the price of Ethereum seems to be performing well, recording a more than 7% increase in the last seven days and a 28% surge over the past month, according to CoinMarketCap.

Ethereum price chart from Tradingview.com
ETH price tries to create support at $4,000 | Source: ETHUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



Source link

Continue Reading

24/7 Cryptocurrency News

ETH is Down 1% But Whales Accumulate

Published

on


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 15.

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 todayeth 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.

  • 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’ 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 15, 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.

Ethereum Price Forecast For The Next 7 Days

DatePriceChange
December 14, 20243873.35-1.43%
December 15, 20243876.29-1.35%
December 16, 20243878.41-1.3%
December 17, 20243890.85-0.98%
December 18, 20243928.84-0.01%
December 19, 20243925.03-0.11%
December 20, 20243932.950.09%
December 21, 20243926.91-0.06%
December 22, 20243907.58-0.56%
December 23, 20243899.74-0.75%
December 24, 20243897.59-0.81%
December 25, 20243878.41-1.3%
December 26, 20243901.36-0.71%
December 27, 20243912.61-0.43%
December 28, 20243937.110.2%
December 29, 20243986.241.45%
December 30, 20243982.791.36%
December 31, 20243995.281.68%
January 01, 20254002.471.86%
January 02, 20253998.531.76%
January 03, 20254007.531.99%
January 04, 20254093.784.18%
January 05, 20254214.337.25%
January 06, 20254249.698.15%
January 07, 20254313.279.77%
January 08, 20254377.1111.39%
January 09, 20254363.2611.04%
January 10, 20254382.3811.53%
January 11, 20254439.8412.99%
January 12, 20254261.578.45%

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

January$3,685.34$4,024.04$3,854.70

59.9%

February$3,497.33$4,061.84$3,779.59

56.8%

March$3,309.32$4,099.64$3,704.49

53.6%

April$3,121.31$4,137.44$3,629.38

50.5%

May$2,933.30$4,175.24$3,554.28

47.4%

June$2,745.29$4,213.04$3,479.17

44.3%

July$2,557.28$4,250.84$3,404.07

41.2%

August$2,369.27$4,288.64$3,328.96

38.1%

September$2,181.26$4,326.44$3,253.86

35%

October$1,993.25$4,364.24$3,178.75

31.8%

November$1,805.24$4,402.04$3,103.65

28.7%

December$1,617.23$4,439.84$3,028.54

25.6%

All Time$2,651.29$4,231.94$3,441.62

42.7%

January$1,917.96$4,517.77$3,299.08

36.8%

February$2,218.69$4,595.70$3,569.62

48.1%

March$2,519.42$4,673.63$3,840.16

59.3%

April$2,820.15$4,751.56$4,110.69

70.5%

May$3,120.88$4,829.49$4,381.23

81.7%

June$3,421.62$4,907.42$4,651.77

92.9%

July$3,722.35$4,985.35$4,922.31

104.2%

August$4,023.08$5,063.28$5,192.85

115.4%

September$4,323.81$5,141.21$5,463.39

126.6%

October$4,624.54$5,219.14$5,733.92

137.8%

November$4,925.27$5,297.07$6,004.46

149%

December$5,226$5,375$6,275

160.3%

All Time$3,571.98$4,946.39$4,787.04

98.5%

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 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

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 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 chartETH/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 addressesETH 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 FlowsSpot 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.





Source link

Continue Reading

24/7 Cryptocurrency News

Ethereum Price Today: Forecasting ETH’s Next ATH

Published

on


Ethereum price trades today at $3,945.8 as of 2 PM. ETH hit a daily high of $3,975.4 after 5.62% move on December 12.

Ethereum Price Today: What’s Next After $4,000?

The daily chart shows Ethereum price today is hovering around $4,000 and looks ready to shoot higher. witnessed on December 5 and 10 are done. Going forward,  investors can ignore ETH’s bearish divergence sell signal and expect it ti climb higher. In fact, technicals suggest Ethereum price could be setting the stage to set a new ATH above $5,000.

Ethereum Price Chart Today

eth price todayeth price today

*Ethereum price updated as of 2 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 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 $476.8 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 $44.1 billion.

Ethereum’s Crypto Trading Volume Soars

The 24-hour trading volume of Ethereum is $44.1 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).

Notable 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.

  • 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 Impact 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 12, the gas fee for a transaction on the ETH network as of 2 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.

Ethereum Price Outlook For The Next Week

DatePriceChange
December 11, 20243633.99-2.45%
December 12, 20243644.65-2.17%
December 13, 20243663.27-1.67%
December 14, 20243666.40-1.58%
December 15, 20243668.68-1.52%
December 16, 20243681.99-1.16%
December 17, 20243722.49-0.08%
December 18, 20243718.44-0.18%
December 19, 20243726.860.04%
December 20, 20243720.40-0.13%
December 21, 20243699.78-0.69%
December 22, 20243691.42-0.91%
December 23, 20243689.10-0.97%
December 24, 20243668.69-1.52%
December 25, 20243693.17-0.86%
December 26, 20243705.20-0.54%
December 27, 20243731.390.16%
December 28, 20243783.761.57%
December 29, 20243780.101.47%
December 30, 20243793.431.83%
December 31, 20243801.082.03%
January 01, 20253796.901.92%
January 02, 20253806.622.18%
January 03, 20253898.744.66%
January 04, 20254027.308.11%
January 05, 20254065.089.12%
January 06, 20254132.9510.94%
January 07, 20254200.9912.77%
January 08, 20254186.2512.37%
January 09, 20254206.7212.92%

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

January$3,510.45$3,819.01$3,664.73

52%

February$3,386.91$3,854.25$3,620.58

50.2%

March$3,263.36$3,889.50$3,576.44

48.3%

April$3,139.82$3,924.75$3,532.29

46.5%

May$3,016.28$3,959.99$3,488.14

44.7%

June$2,892.74$3,995.24$3,443.99

42.8%

July$2,769.19$4,030.49$3,399.84

41%

August$2,645.65$4,065.73$3,355.69

39.2%

September$2,522.11$4,100.98$3,311.55

37.4%

October$2,398.57$4,136.23$3,267.40

35.5%

November$2,275.02$4,171.47$3,223.25

33.7%

December$2,151.48$4,206.72$3,179.10

31.9%

All Time$2,830.96$4,012.86$3,421.92

41.9%

January$2,407.69$4,304.08$3,437.09

42.6%

February$2,663.90$4,401.43$3,695.08

53.3%

March$2,920.11$4,498.79$3,953.08

64%

April$3,176.32$4,596.15$4,211.07

74.7%

May$3,432.53$4,693.50$4,469.06

85.4%

June$3,688.74$4,790.86$4,727.05

96.1%

July$3,944.95$4,888.22$4,985.04

106.8%

August$4,201.16$4,985.57$5,243.03

117.5%

September$4,457.37$5,082.93$5,501.03

128.2%

October$4,713.58$5,180.29$5,759.02

138.9%

November$4,969.79$5,277.64$6,017.01

149.6%

December$5,226$5,375$6,275

160.3%

All Time$3,816.85$4,839.54$4,856.05

101.4%

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 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

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 lowest price point is $16,092.58, and the highest price of Ether is $145,915.83.

Ethereum Price Analysis: Predicting Next ATH Target for ETH

Ethereum price shows that its 2024’s lackluster performance ended on November 20. Since this point, ETH has shot up nearly 35% and set up a local top at $4,091. Following this uptrend was a 14% correction that formed a local bottom around $3,515. Drawing a trend line connecting the aforementioned swing points shows the formation of an uptrending parallel channel. So far, Ether has tagged twice at the bottom and two at the top and is currently retesting the midpoint of the parallel channel’s midpoint at $3,936 after a 12% rally.

The next target for Ethereum price is the upper limit of the parallel channel at $4,314. From a theoretical standpoint, however, the technical formation should be doubled, which puts the target at $5,274, well above the $4,878 all-time high.

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

If buyers fail to push Ethereum price higher with Bitcoin collapsing like it did a few days ago then, ETH could reject from the parallel channel’s midpoint and revisit the lower limit at $3,870 support level. A breakdown of this level could send ETH down to $3,000 psychological level.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon