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Ethereum price today trades at $3,994.4 as of 5 PM. The drop comes after ETH hit a daily high of $4,012.6 after 2.15% move on December 16.
Ethereum Price Today is Up As ETH Trades at $3,994.4
As noted in a pervious CoinGape article, Ethereum price rejected from the parallel channel’s midpoint twice in the past four days. But the $3,900 support level holds, preventing a further crash. As this price action unfolds, on-chain analysis of ETH holders reveals that 92% are in the money, while 3% are at breakeven and the remaining 2% are out of the money.
How will this impact Ether prices in the short-term? Will ETH continue its uptrend or crash lower? Let’s find out.
Ethereum Price Chart Today
*Ethereum price updated as of 5 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 $480.8 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 $41.6 billion.
Ethereum’s Crypto Trading Volume Soars
The 24-hour trading volume of Ethereum is $41.6 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 Blockchain Runs on 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:
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Cancun-Deneb (“Dencun”): This upgrade aimed to improve Ethereum’s scalability, security, and usability, setting the stage for further enhancements.
2023:
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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:
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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.
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Bellatrix: Prepared the Ethereum network for The Merge by introducing the necessary PoS consensus logic.
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Gray Glacier: Delayed the “difficulty bomb” that would have slowed down the network, ensuring a smooth transition to PoS.
2021:
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Arrow Glacier: Delayed the “difficulty bomb” again, providing more time for the transition to PoS.
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Altair: Introduced several improvements to the Beacon Chain, including better validator incentives and enhanced security.
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London: Implemented the highly anticipated EIP-1559, which reformed the transaction fee market, making it more efficient and user-friendly.
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Berlin: Introduced several protocol upgrades, including improved gas efficiency and enhanced security features.
2020:
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Beacon Chain genesis: Launched the Beacon Chain, marking the beginning of Ethereum’s transition to PoS.
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Staking deposit contract deployed: Enabled users to deposit ETH and participate in the PoS consensus algorithm.
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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 16, the gas fee for a transaction on the ETH network as of 5 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.
Ethereum Price Forecast For The Next 7 Days
| December 16, 2024 | 3820.98 | -1.65% |
| December 17, 2024 | 3833.67 | -1.33% |
| December 18, 2024 | 3872.60 | -0.32% |
| December 19, 2024 | 3868.69 | -0.42% |
| December 20, 2024 | 3876.80 | -0.22% |
| December 21, 2024 | 3870.64 | -0.37% |
| December 22, 2024 | 3850.85 | -0.88% |
| December 23, 2024 | 3842.82 | -1.09% |
| December 24, 2024 | 3840.64 | -1.15% |
| December 25, 2024 | 3820.96 | -1.65% |
| December 26, 2024 | 3844.46 | -1.05% |
| December 27, 2024 | 3855.96 | -0.75% |
| December 28, 2024 | 3880.98 | -0.11% |
| December 29, 2024 | 3931.33 | 1.19% |
| December 30, 2024 | 3927.77 | 1.1% |
| December 31, 2024 | 3940.56 | 1.43% |
| January 01, 2025 | 3947.94 | 1.62% |
| January 02, 2025 | 3943.89 | 1.51% |
| January 03, 2025 | 3952.99 | 1.75% |
| January 04, 2025 | 4041.19 | 4.02% |
| January 05, 2025 | 4164.66 | 7.19% |
| January 06, 2025 | 4200.80 | 8.12% |
| January 07, 2025 | 4265.85 | 9.8% |
| January 08, 2025 | 4331.28 | 11.48% |
| January 09, 2025 | 4317.06 | 11.12% |
| January 10, 2025 | 4336.57 | 11.62% |
| January 11, 2025 | 4395.70 | 13.14% |
| January 12, 2025 | 4213.03 | 8.44% |
| January 13, 2025 | 4223.38 | 8.71% |
| January 14, 2025 | 4210.60 | 8.38% |
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 | $3,661.50 | $3,970.03 | $3,815.77 | 58.3% |
| February | $3,502.03 | $4,008.73 | $3,755.38 | 55.8% |
| March | $3,342.57 | $4,047.42 | $3,695 | 53.3% |
| April | $3,183.11 | $4,086.12 | $3,634.62 | 50.8% |
| May | $3,023.64 | $4,124.82 | $3,574.23 | 48.2% |
| June | $2,864.18 | $4,163.52 | $3,513.85 | 45.7% |
| July | $2,704.72 | $4,202.21 | $3,453.47 | 43.2% |
| August | $2,545.25 | $4,240.91 | $3,393.08 | 40.7% |
| September | $2,385.79 | $4,279.61 | $3,332.70 | 38.2% |
| October | $2,226.33 | $4,318.31 | $3,272.32 | 35.7% |
| November | $2,066.86 | $4,357 | $3,211.93 | 33.2% |
| December | $1,907.40 | $4,395.70 | $3,151.55 | 30.7% |
| All Time | $2,784.45 | $4,182.86 | $3,483.66 | 44.5% |
| January | $2,183.95 | $4,477.31 | $3,411.84 | 41.5% |
| February | $2,460.50 | $4,558.92 | $3,672.13 | 52.3% |
| March | $2,737.05 | $4,640.53 | $3,932.41 | 63.1% |
| April | $3,013.60 | $4,722.13 | $4,192.70 | 73.9% |
| May | $3,290.15 | $4,803.74 | $4,452.99 | 84.7% |
| June | $3,566.70 | $4,885.35 | $4,713.28 | 95.5% |
| July | $3,843.25 | $4,966.96 | $4,973.56 | 106.3% |
| August | $4,119.80 | $5,048.57 | $5,233.85 | 117.1% |
| September | $4,396.35 | $5,130.18 | $5,494.14 | 127.9% |
| October | $4,672.90 | $5,211.78 | $5,754.43 | 138.7% |
| November | $4,949.45 | $5,293.39 | $6,014.71 | 149.5% |
| December | $5,226 | $5,375 | $6,275 | 160.3% |
| All Time | $3,704.98 | $4,926.15 | $4,843.42 | 100.9% |
| 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 Technical Analysis: 92% ETH Holders in Profit as Ether Eyes $5,200
According to data from IntoTheBlock, 92% of ETH holders are in the money, aka profitable. Only 3% are at breakeven, ie., neither profit or loss, but the remaining 2% of ETH are out of the money and probably bought ETH at the peak of the previously cycle, ie., close to $5,000.
What does this mean?
The fact that 92% of investors are profitable, suggests that ETH is close to revisiting its previous highs.
ETH GIOMTechnicals also show Ethereum price hover inside an up-sloping parallel channel. Although Ether bulls are unable to push through the channel’s midpoint, bears aren’t powerful enough to trigger a crash. Hence, the chances of consolidation are high.
So far, ETH has already been in sideways movement for the past four days and will likely end this soon. With Bitcoin hitting a new ATH of $106,728, it is likely that Ethereum will follow suit. In such a case, a breakout above the midpoint could propel Ethereum price by nearly 40% from the current price to set up a new ATH of $5,274.
ETH/USDT 4-hour chartOn the other hand, if Ethereum price breaches the $3,090 support level, it could trigger a 13% crash to retest the $3.371 support floor. A breakdown of this barrier will invalidate the bullish outlook and potentially kickstart a steep correction to sub-$3,000 level.
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