Tom Lee has reiterated one of the most aggressive Ethereum targets in the market, telling attendees at Binance Blockchain Week on 4 December that ETH could eventually trade at $62,000 as it becomes the core infrastructure for tokenized finance.

“Okay, so let me explain to you why Ethereum, now that we’ve talked about crypto, […] is the future of finance,” Lee said on stage. He framed 2025 as Ethereum’s “1971 moment,” drawing a direct analogy to when the US dollar left the gold standard and triggered a wave of financial innovation.

Lee’s Thesis For Ethereum

“In 1971, the dollar went off the gold standard. And in 1971, it galvanized Wall Street to create financial products to make sure the dollar would be the reserve currency,” Lee argued. “Well, in 2025, we’re tokenizing everything. So it’s not just the dollar that’s getting tokenized, but it’s stocks, bonds, real estate.”

In his view, this shift positions ETH as the primary settlement and execution layer for tokenized assets. “Wall Street is, again, going to take advantage of that and create products onto a smart contract platform. And where they’re building this is on Ethereum,” he said. Lee pointed to current real-world asset experiments as early evidence, noting that “the majority of this, the vast majority, is being built on Ethereum,” and adding that “Ethereum has won the smart contract war.”

Lee also stressed that ETH’s market behavior has not yet reflected that structural role. “As you know, ETH has been range bound for five years, as I’ve shaded here. But it’s begun to break out,” he told the audience, explaining why he “got very involved with Ethereum by turning Bitmine into an ETH treasury company, because we saw this breakout coming.”

The core of his valuation case is expressed through the ETH/BTC ratio. Lee expects Bitcoin to move sharply higher in the near term: “I think Bitcoin is going to get to $250,000 within a few months.” From there, he derives two key ETH scenarios.

First, if the ETH/BTC price relationship simply reverts to its historical mean, he sees substantial upside. “If ETH price ratio to Bitcoin gets back to its eight year average, that’s $12,000 for Ethereum,” he said. Second, in a more aggressive case where ETH appreciates to a quarter of Bitcoin’s price, his long-standing $62,000 target emerges: “If it gets to 0.25 relative to Bitcoin, that’s $62,000.”

TOM LEE CALLS FOR $62,000 $ETH

“I think Ethereum’s going to become the future of finance, the payment rails of the future and if it gets to .25 relative to Bitcoin that’s $62,000. Ethereum at $3,000 is grossly undervalued.” pic.twitter.com/VydvLou9IE

— CryptosRus (@CryptosR_Us) December 4, 2025

Lee links these ratios directly to the tokenization narrative. “If 2026 is about tokenization, that means Ether’s utility value should be rising. Therefore, you should watch this ratio,” he told the crowd, arguing that valuation should track growing demand for ETH blockspace and its role as “the payment rails of the future.”

He concluded with a pointed assessment of current levels: “I think Ethereum at $3,000, of course, is grossly undervalued.”

At press time, ETH traded at $3,128.

Ethereum has retraced from the $3,240 level and is now testing the $3,150 zone as support, a key area that traders are closely watching. Bulls are attempting to defend this level after a modest rebound, but uncertainty remains high as the market tries to establish direction following weeks of volatility and aggressive selling pressure. While some analysts view this consolidation as the early stages of a recovery, others warn that ETH may still be vulnerable to deeper pullbacks if momentum fails to strengthen.

According to top analyst Darkfost, Ethereum’s recent price action is being shaped by a notable shift in market structure. Over the past few days, spot volumes have continued to decline, even as the price attempted a small recovery. This weakening in spot activity reduces the impact of actual buying and selling on the underlying asset, making futures markets increasingly influential in dictating short-term price direction.

As Darkfost explains, when spot volume thins out, futures often become the dominant driver of volatility. This dynamic can accelerate both upside and downside moves, depending on traders’ positioning. With Ethereum now sitting at a critical support level, the market awaits clearer signals to determine whether this rebound can evolve into a sustained recovery or merely represents a temporary pause in the downtrend.

Futures-Driven Momentum Raises the Stakes for Ethereum

Darkfost expands on this dynamic by noting that when spot volumes weaken to the extent seen over the past few days, the risk of heightened volatility increases sharply. Thin spot liquidity means fewer buy and sell orders are available to absorb sudden moves, allowing futures-driven momentum to exert an outsized influence on price. This environment often produces sharper swings and rapid directional shifts, as leveraged traders and algorithmic strategies dominate short-term market behavior.

For now, the futures market is tilting upward, providing a constructive force that is helping Ethereum hold above the $3,150 support zone. Darkfost emphasizes that this upward pressure from futures could work in the bulls’ favor, as volatility—if it expands to the upside—may push the spot market to follow the same trajectory.

In other words, a sustained futures-led rebound could act as the spark needed for a broader recovery, especially if spot buyers gain confidence and begin re-entering the market.

However, this setup cuts both ways. Without stronger spot participation, any reversal in futures positioning could quickly translate into accelerated downside pressure. For now, Ethereum sits in a delicate phase where volatility is both a potential catalyst and a potential threat, making the next few sessions crucial for determining the market’s short-term direction.

ETH Weekly Structure Holds Key Support

Ethereum’s weekly chart shows a market attempting to stabilize after a steep downturn from the $4,500 region. ETH has rebounded toward $3,140, reclaiming its 100-week moving average (green line) — a historically important support level that often defines the boundary between mid-term bullish and bearish phases. This bounce signals renewed demand at a critical zone, especially after the strong wick rejection seen near $2,700, where buyers stepped in aggressively.

However, Ethereum still faces meaningful resistance overhead. The 50-week moving average (blue line), now hovering near $3,400–$3,500, has flipped into resistance and remains the next major hurdle for bulls. A successful reclaim of this zone would materially improve ETH’s technical structure and open the door to a challenge of higher levels. Until then, the weekly trend remains neutral to slightly bearish.

Volume offers an encouraging signal: the recent rebound occurred with a noticeable uptick in buying activity compared to prior weeks, suggesting strengthened interest at these lower levels. Yet the broader structure shows a pattern of lower highs since August, meaning ETH must demonstrate follow-through to avoid slipping back into deeper consolidation.

Featured image from ChatGPT, chart from TradingView.com

Ethereum is approaching a critical moment as multiple bullish signals begin to align. A clear Inverse Head & Shoulders formation, combined with rising accumulation and weakening trend rejection, suggests that the market may be gearing up for a powerful upside move. With momentum tightening and key levels coming into focus, ETH now stands on the verge of a breakout that could set the stage for its next major rally.

Inverse Head And Shoulders Signals Brewing Momentum

According to a recent update shared by crypto analyst Donald Dean, Ethereum may be gearing up for a significant move. He highlighted the development of a potential inverse head and shoulders pattern, a classic bullish reversal formation that often precedes strong upward momentum. This emerging structure suggests that ETH could soon shift into a more aggressive bullish phase if confirmed.

Dean also pointed out that the weekly chart is showing solid support near the 50% Fibonacci retracement level, positioned around $2,750. Adding to the bullish signals, a hammer candle has appeared on the weekly timeframe, hinting at buying pressure stepping back in after recent downside movement.

If the pattern plays out, Dean noted that Ethereum’s first major target lies at $4,109, a level that would allow ETH to challenge previous resistance/support zones. Reclaiming this region would mark a meaningful shift in momentum and strengthen the bullish outlook for the asset.

Beyond that, the next upside target sits near $5,766, which aligns closely with the 1.618 Golden Ratio extension calculated at approximately $5,793.51. Dean described this confluence as particularly noteworthy, suggesting that if Ethereum breaks above its nearer targets, a larger rally toward this golden-ratio level becomes a realistic possibility.

Growing Accumulation Suggests Bulls Are Preparing For Action

In an earlier analysis, LSTRADER reminded followers of the impressive move from $1,600 to $4,800, noting that this surge had been identified in advance through both the ETH chart and the ETH/BTC setup. The analysis captured the momentum shift that preceded the rally, reinforcing the value of tracking key structural signals.

In the current market structure, LSTRADER noted that the chart clearly shows multiple instances where the trend faced rejection. Despite these rejections, the trend is steadily losing strength while accumulation continues to build, a combination that typically reflects growing bullish interest and the potential for an upward breakout.

However, LSTRADER stressed that no major move should be assumed until the trendline itself is broken, and confirmation is still required. For now, patience is key as traders continue monitoring the structure and waiting for a decisive shift in trend direction.

Ethereum is demonstrating notable relative strength after reclaiming the $3,150 level and attempting to push higher, offering a refreshing shift in sentiment following weeks of intense selling pressure, fear, and market-wide uncertainty. As the broader crypto landscape begins to stabilize, ETH stands out as one of the assets showing early signs of recovery, drawing renewed attention from traders and long-term investors alike.

A key factor supporting this shift is the Net Unrealized Profit/Loss (NUPL) reading for Ethereum on Binance, which is currently sitting around 0.22 while price trades near $3,100.

This level reflects a delicate equilibrium between fear and optimism, indicating that a significant portion of ETH holders remain in moderate profit. Importantly, NUPL has not yet moved into the “greed” zone typically seen in the late stages of a bullish cycle, suggesting that the market is far from overheated.

Instead, Ethereum appears to be transitioning into a more neutral, constructive phase where investors are cautiously optimistic but not excessively euphoric. This balance often forms the foundation for a healthier recovery, especially after a deep correction. If momentum continues building and NUPL remains stable or trends higher, ETH could be positioning itself for a stronger upside move in the coming weeks.

NUPL Signals a Transitional Market Phase

Arab Chain notes that Ethereum’s NUPL index experienced a significant rise between June and August, reaching levels far higher than today and reflecting strong profitability across the network during mid-2025. At that time, investor sentiment leaned toward optimism, supported by rising prices and improving macro conditions.

However, as Ethereum’s price began to decline steadily from October onward, unrealized profits started to shrink. This pushed NUPL down toward more neutral territory, signaling a shift in sentiment from elevated optimism to a more grounded, cautious outlook.

Crucially, NUPL has not fallen into negative territory, meaning the average ETH holder has not transitioned into unrealized losses. This is an important sign of underlying market strength. When investors remain in profit, they tend to be less motivated to sell aggressively at lower prices, reducing the risk of panic-driven capitulation and helping stabilize price action during corrections.

Taken together, these signals indicate that Ethereum is currently in a transitional phase. The market is neither euphoric nor fearful—rather, it is waiting for a decisive catalyst to define the next trend. As long as NUPL stays above 0.20, Ethereum retains a meaningful level of investor confidence, increasing the likelihood of a rebound if liquidity strengthens or positive fundamental developments emerge.

ETH Rebounds Strongly on the Weekly Chart

Ethereum’s weekly chart shows a powerful rebound as price surges back above the $3,150–$3,200 region, reclaiming a critical support band that had turned into resistance during the November sell-off. The long lower wick from last week’s candle confirms strong buy-side interest around the $2,700–$2,800 zone, an area that has historically acted as a major demand region during multi-month corrections.

ETH has now reclaimed the 100-week SMA, a key trend indicator currently positioned near $2,900, signaling renewed structural stability. The 200-week SMA, sitting comfortably lower, continues to reinforce the long-term uptrend. However, the 50-week SMA, which has flattened and now looms around the $3,350–$3,400 level, represents the next significant resistance level. ETH will need a decisive weekly close above this moving average to confirm a true shift back into bullish momentum.

Volume on the rebound is notably stronger than in previous consolidation phases, suggesting increased participation and growing confidence among market participants. However, ETH is not yet in the clear. The series of lower highs since the September peak forms a descending structure that must be broken for a sustained uptrend to resume.

Featured image from ChatGPT, chart from TradingView.com

Ethereum (ETH) is topping talks once again as its Fusaka upgrade goes live and the ETH price returns firmly above the $3,200 mark. After weeks of choppy trading and lingering fear across the broader crypto market, the combination of a major technical overhaul and rising on-chain activity is giving traders a fresh narrative to follow.

Related Reading: Eric Trump Says Bitcoin Could Hit $500,000, Stands By ABTC Strategy

In the last 24 hours, ETH has climbed around 4–5%, outperforming most large-cap cryptos and reclaiming a key psychological zone near $3,200. Market data shows rising volumes and a noticeable pickup in accumulation from larger holders, even as sentiment indicators still sit in “Fear” territory.

Fusaka Upgrade Shifts Focus Back to Ethereum’s Scaling Roadmap

The Fusaka upgrade, Ethereum’s second major network update of 2025, activated at block height 18,200,000. At its core is PeerDAS, a data availability sampling system that lets nodes store only slices of blob data instead of entire payloads.

This change is estimated to expand blob throughput by roughly eight times, easing congestion and helping layer-2 networks push more transactions through Ethereum’s base layer.

Developers describe Fusaka as another step in Ethereum’s long-term scaling roadmap, aligning the main chain with growing layer-2 activity.

Beyond PeerDAS, the upgrade bundles a series of Ethereum Improvement Proposals that tweak gas limits, transaction sizes, cryptographic support, and block configuration, aiming to improve efficiency while keeping validator requirements manageable.

On-chain data shows “shark” wallets holding between 1,000 and 10,000 ETH have ramped up accumulation in recent weeks, buying aggressively on dips around $2,700–$3,000.

Institutional interest also appears to be rising. BitMine has reportedly added more than 18,000 ETH to its treasury ahead of Fusaka, while U.S. spot Ethereum ETFs have recorded notable net inflows.

Technically, ETH is trading around $3,200 with analysts watching resistance between $3,300 and $3,500. Short-term models project a move toward roughly $3,537 within days, implying upside of about 10% if the current trend holds.

However, indicators remain mixed. The broader setup is still labelled “bearish,” and any pullback could see ETH retesting support around $3,100, $3,000, or even the $2,850 zone.

Related Reading: XRP Price Is Performing As Expected; Analyst Reveals What Comes Next

For now, the Fusaka upgrade has shifted the conversation back to fundamentals, with Ethereum’s price action testing whether renewed confidence is enough to carry it through the $3,500 barrier.

Cover image from ChatGPT, ETHUSD chart from Tradingview

Ethereum’s Fusaka upgrade is now live on mainnet, marking a major structural change in how the network handles data and scaling. The upgrade was activated at epoch 411392 at 21:49:11 UTC, with the official Ethereum account first signalling “upgrade in progress . . . activating Fusaka @ epoch 411392 // 21:49:11 UTC” and then confirming that “Fusaka is live on Ethereum mainnet!”

In its announcement, the account highlighted three core elements of Fusaka. PeerDAS “now unlocks 8x data throughput for rollups,” substantially expanding the amount of data that rollup-based layer 2 networks can publish to the network. The upgrade also introduces “UX improvements via the R1 curve & pre-confirmations,” and is described as explicit “prep for scaling the L1 with gas limit increase & more.” The project added that community members and core developers will “continue to monitor for issues over the next 24 hrs.”

Why Fusaka Is ‘Significant’ For Ethereum

Vitalik Buterin framed the core of the upgrade in unusually direct terms. “PeerDAS in Fusaka is significant because it literally is sharding,” he wrote. “Ethereum is coming to consensus on blocks without requiring any single node to see more than a tiny fraction of the data. And this is robust to 51% attacks – it’s client-side probabilistic verification, not validator voting.” In other words, the network can now agree on blocks even though no node has to download all of the associated data, relying instead on probabilistic verification on the client side.

Buterin tied this to a long-running research line, noting that “sharding has been a dream for Ethereum since 2015, and data availability sampling since 2017,” and linking back to early research work on data availability and erasure coding. With Fusaka, that architecture is no longer just a roadmap concept but a live mechanism securing Ethereum’s data layer.

At the same time, Buterin was clear that Fusaka does not complete the sharding roadmap. He stressed that “there are three ways that the sharding in Fusaka is incomplete.” First, he argued that “we can process O(c^2) transactions (where c is the per-node compute) on L2s, but not on the ethereum L1,” adding that “if we want to scaling to benefit the ethereum L1 as well, beyond what we can get by constant-factor upgrades like BAL and ePBS, we need mature ZK-EVMs.”

Second, he pointed to the “proposer/builder bottleneck,” where “the builder needs to have the whole data and build the whole block,” and said “it would be amazing to have distributed block building.” Third, he noted bluntly: “We don’t have a sharded mempool. We still need that.”

Despite those caveats, Buterin called Fusaka “a fundamental step forward in blockchain design.” He argued that “the next two years will give us time to refine the PeerDAS mechanism, carefully increase its scale while we continue to ensure its stability, use it to scale L2s, and then when ZK-EVMs are mature, turn it inwards to scale ethereum L1 gas as well.”

He closed by sending “big congrats to the Ethereum researchers and core devs who worked hard for years to make this happen,” underscoring that for the Ethereum community, Fusaka is not a routine protocol update but the arrival of a long-promised sharding era on mainnet.

At press time, ETH traded at $3,194.

Over the past few weeks, the price of Ethereum has been on a downward trend due to a highly volatile market environment. ETH’s bearish action appears to have hampered on-chain activities, as evidenced by a decline in its total transactions carried out within a monthly period.

A Quiet Month For The Ethereum Network

Ethereum’s on-chain activity appears to have slowed down alongside the ongoing decline of ETH’s price. The blockchain, which is typically bustling with contract calls, exchanges, and transfers, now feels a little more roomy, suggesting a cooling pulse beneath the surface.

After examining the Transactions on the Ethereum Network metric in the monthly time frame, Everstake.eth, a market analyst and the head of the ETH segment at Everstake, revealed that the blockchain has recorded its worst month of the year. While price has declined, ETH’s total transactions executed in a month, particularly November, experienced a cool-off.

According to the data, the overall number of transactions carried out on the Ethereum network in November alone was approximately 32.2 million. Although this figure may seem large, it actually marks the lowest monthly count in the past 12 months.

Such a drop in transactions may suggest the renewed waning appetite for the network. In addition to suggesting a retreat, this delay reads more like a collective pause as users catch their breath, procedures recalibrating, and the market adjusting to its new rhythm. 

Everstake.eth highlighted that this kind of cooldown usually occurs when the market moves into a wait-and-see phase. During this phase, capital is observed sitting on the sidelines while developers continue to build on the blockchain. Despite this trend, the network still records more than 33 million transactions in a quiet month, which reflects its robust strength.

At a time like this, the expert noted that user behavior typically follows the market sentiment. As seen in the past, on-chain activity tends to cool down when volatility drops. However, Ethereum still retains the status as the most reliable network even during slow phases.

With the Fusaka Upgrade set to hit the market, Everstake.eth predicts that ETH transactions will see explosive growth. “If this is the worst month, imagine what the best will look like after Fusaka rolls out. It will be huge,” the expert stated.

ETH Active Transactions Pick Up

The monthly transactions may have slowed down, but the active addresses on the Ethereum network are heating up again. Leon Waidmann, the head of research at On-Chain Foundation, reported that active addresses throughout the entire ecosystem, Layer 1 and Layer 2s, bounced back above 9.5 million this week.

This surge points to a quiet resurgence of interest, utility, or a group readiness for the future. Waidmann highlighted that this marks the first meaningful reversal after several weeks of downside action.

ETH layer 2s such as Base, Arbitrum, Optimism, and World Chain have witnessed a strong rebound following a period of decline. Furthermore, multi-chain activity is starting to stabilize after the drop in Q3. These factors are painting a bullish picture for the network and its price prospects.

The crypto market delivered a dramatic rebound this week, with the Bitcoin price vaulting above $92,000 and Ethereum climbing back over $3,000. The sharp recovery in both leading cryptocurrencies has caught the market’s attention, with analysts now sharing the major reason for the unexpected pump. 

Why The Ethereum And Bitcoin Price Are Rebounding

Bitcoin is currently trading above $93,000 after experiencing a period of accelerated selling and heavy long liquidations that had briefly pushed its price down over the past few weeks. Now that forced selling has eased, the cryptocurrency has recovered significantly, adding an astonishing $75 billion to its market capitalization within 10 hours. 

Ethereum has followed the same upward swing. Data from CoinMarketCap shows that ETH has gained more than 9% in the past 24 hours, with steady accumulation pushing its price above $3,050. 

Crypto market analyst Wimar.X has explained the reason behind the sudden surge in both Bitcoin and Ethereum prices. He framed the resurgence as a rapid wave of high-volume coordinated institutional buying. In his words, the market pumped because a massive round of accumulation occurred within a single hour. 

Data from Arkham Intelligence shows that Wintermute, a leading algorithmic trading firm, had bought 8,577 BTC ahead of the market surge. Binance, the world’s largest crypto exchange, also acquired 7,658 BTC, while a major whale wallet added 6,010 BTC to its portfolio. Finally, BitMEX, a crypto exchange co-founded by Arthur Hayes, reportedly accumulated 5,818 BTC, while Bitfinex absorbed 5,778 BTC. 

According to Wimar.X analysis, the sudden accumulation and its timing appear coordinated. He described the activity as manipulation, implying that it was intended to influence market perception and artificially sway prices. 

Analysts Share Outlook For Bitcoin And Ethereum Price After Pump

As the crypto market showed renewed strength and BTC recovered above $90,000, crypto expert Michael van de Poppe took to X to highlight the significance of the rebound. He noted that the recent dip in Bitcoin’s price at the start of the month appeared unusual but was followed by a strong bounce. According to the analyst, surpassing $92,000 will be critical for Bitcoin and could pave the way for a new all-time high and a potential test of $100,000. 

On the other hand, a market analyst identified as ‘More Crypto Online’ on X has stated that Ethereum is currently testing the micro support zone between $2,907 and $2,974. He noted that holding this support area is crucial for sustaining the upward momentum that began earlier this week.

As a result, the analyst has predicted that Ethereum’s next upside window sits between $3,165 and $3,210. He cautioned that a breach below the lower support level could trigger a deeper corrective wave. However, current trends suggest that ETH is mainly aiming higher. 

Ethereum has fallen below the $2,800 mark after a sharp and sudden decline, deepening panic across the market and reinforcing the sense that bulls have lost control. The recent drop has pushed investors into defensive mode, with some analysts now openly discussing the possibility of a broader bear market emerging. Selling pressure has intensified across spot and derivatives markets, and volatility continues to rise as traders struggle to identify a reliable support zone.

A new CryptoQuant report by Darkfost highlights one of the most alarming developments: Ethereum’s open interest on Binance has been steadily collapsing for more than three months. After reaching an all-time high of $12.6 billion on August 22, open interest has now been cut in half. Nearly $6.4 billion in derivative positions have evaporated, bringing ETH’s open interest down to $6.2 billion, a steep 51% decline.

While this appears to be an extraordinary contraction, Darkfost notes that open interest has only just slipped below the previous all-time high of $7.7 billion. This underscores how speculative and overstretched the 2025 derivatives market had become — and suggests that Ethereum may be undergoing a much deeper structural reset than most expected.

Speculation Unwinds Across Exchanges as Ethereum Enters Deep Reset Phase

Darkfost emphasizes that 2025 has been the most speculative phase in Ethereum’s history, fueled by aggressive leverage, rapid inflows, and a market structure that proved far less solid — and far less sustainable — than it appeared during the rally. The collapse in open interest on Binance is only part of the story.

The same pattern is unfolding across major derivatives platforms, revealing a broader structural unwind rather than an exchange-specific phenomenon.

On Gate.io, ETH open interest has fallen from $5.2 billion to $3.5 billion. On Bybit, the drop is even more severe, plunging from $6.1 billion to $2.3 billion. This synchronized contraction shows how aggressively speculative positions have been flushed out. Meanwhile, the ongoing correction has dragged Ethereum’s price from $4,830 to $2,800, marking a steep 43% decline from the highs.

This widespread reduction in leverage suggests the market is undergoing a deeper reset than typical corrections. Investors are not rushing to re-enter positions, especially as liquidations continue to stack up across exchanges.

While shrinking open interest weighs on short-term momentum and sentiment, Darkfost notes that such aggressive deleveraging may ultimately help rebuild a healthier market foundation — one capable of supporting a durable bottom for ETH.

ETH Loses Key Trend Support as 3-Day Structure Turns Fully Bearish

Ethereum’s 3-day chart shows a decisive breakdown in structure, with price now firmly below the 50 SMA, 100 SMA, and 200 SMA for the first time since late 2024. The rejection from the $3,600–$3,800 region triggered a strong impulse to the downside, sending ETH directly through all major moving averages and confirming a shift toward a higher-timeframe downtrend. The current trading zone around $2,800 reflects a critical test of former support, but momentum remains weak.

The 50 SMA has now crossed below the 100 SMA, while both are beginning to converge downward toward the 200 SMA — a configuration that typically precedes sustained corrections. Volume has increased on red candles, showing that sellers remain dominant, and there is little evidence of aggressive dip-buying. The most recent candle wick toward $2,700 highlights vulnerability rather than strength, suggesting buyers are hesitant to defend this level with conviction.

ETH is also forming a series of lower highs and lower lows, further confirming bearish market structure. If $2,750 breaks cleanly, the next significant liquidity zones sit near $2,550 and $2,300, where prior consolidations developed earlier in the cycle.

Featured image from ChatGPT, chart from TradingView.com

The prices of Ethereum and Dogecoin have followed a similar trajectory to the Bitcoin price crash as the pioneer digital asset continues to lead the crypto market lower. The muted action from Bitcoin has led to speculations that the market is finally headed into another bear trend after rising over the last few years. In this same vein, a crypto analyst has predicted when they believe that the bear market will really start, and that the current trend could still lead to an eventual pump in the market.

Why The Bitcoin, Ethereum, And Dogecoin Prices Could Still Pump

Crypto analyst ChainShinobi explained what is going on in the market, predicting that the trend could end up going against what investors are expecting at this time. According to the X post, while everyone is currently calling for lower prices, it could lead to another pump that culminates in the final top for the crypto market

ChainShinobi predicts what they refer to as “a face-melter”, the type of rally that no one sees coming and takes the likes of Bitcoin, Dogecoin, and Ethereum to possibly new all-time highs. However, instead of using this time to call for higher prices, the analyst believes that it is the best time for investors to actually get out of the market. This pump, which the analyst refers to as an exit window, could provide investors one final chance to actually get out of the market before another price crash.

This is “The moment to lock in massive profit while everyone else is busy blinding themselves with hopium and pushing their targets higher and higher… the same way they dragged their targets lower and lower right now,” the crypto analyst said.

The Same Wave Every Cycle

As for when the Dogecoin, Ethereum, and Dogecoin prices could move into the next bear market, the crypto analyst tells investors not to expect it until next year. More precisely, ChainShinobi believes that the bear market will fully begin by the end of the first quarter of 2025.

When the pump comes, the analyst warns that there could be an influx of bullish sentiment, with bullish news flooding the market. But it is during this time that the market is expected to turn. Essentially, the bear market is expected to begin when investors least expect it. “It’s pretty easy to see what’s coming. You don’t need to overdo TA or PA right now to see the path laid out,” the post read.

Ethereum has fallen below the $2,800 mark after a sharp and sudden decline, deepening market anxiety and raising fresh questions about whether a broader bearish phase may be emerging. The drop has undermined bullish momentum, with buyers struggling to defend key support levels as selling pressure accelerates across both spot and derivatives markets.

Sentiment has deteriorated quickly, and several analysts are beginning to openly discuss the possibility of a sustained bear market if ETH fails to stabilize soon.

Yet amid the growing panic, a notable counter-signal continues to attract attention: Bitmine’s ongoing accumulation. Despite ETH’s decline, the firm has repeatedly added to its holdings, purchasing thousands of ETH over the past several weeks. Bitmine’s persistent buying behavior suggests that at least some large players still view the current correction as an opportunity rather than a risk.

For investors searching for signs of resilience, Bitmine’s actions have become a point of cautious optimism. While the macro structure remains fragile and the downtrend intact, steady accumulation from an institutional buyer provides a potential anchor of support — and raises the possibility that a rebound could form once selling pressure exhausts.

Bitmine Expands Its Massive Ethereum Position

According to on-chain data from Arkham, shared by Lookonchain, Bitmine has continued its aggressive accumulation strategy, purchasing an additional 7,080 ETH—worth approximately $19.8 million—just a few hours ago.

This latest buy adds to a series of repeated inflows over the past several weeks, reinforcing the firm’s conviction even as Ethereum trades near multi-month lows. Bitmine’s willingness to keep adding during periods of heightened volatility has become one of the most notable accumulation trends in the market.

With this purchase, Bitmine’s total Ethereum holdings have climbed to roughly 3.43 million ETH, now valued at around $9.6 billion at current prices. This positions the firm as one of the largest known institutional holders of ETH, and its continued accumulation stands in sharp contrast to the broader atmosphere of fear and defensive positioning. While many traders are reducing exposure amid Ethereum’s sharp decline, Bitmine appears to be doubling down.

Such behavior from a major entity often signals longer-term confidence in Ethereum’s fundamentals, regardless of short-term price action. For investors, Bitmine’s expanding position has created a counter-narrative to prevailing bearish sentiment, suggesting that deeper-pocketed players may be preparing for a recovery once the market finishes resetting.

ETH Tests Weekly Support as Trend Weakens

Ethereum’s weekly chart shows a significant loss of momentum, with price breaking below the 50 SMA and now sitting directly on top of the 100 SMA near the $2,750–$2,800 region. This zone has historically served as an important structural support during prior corrections, making the current interaction a critical moment for the broader trend. The sharp rejection from the $4,500 level marks one of ETH’s steepest weekly declines since 2022, highlighting the intensity of the current sell-off.

The 50 SMA has begun to curl downward, signaling early signs of medium-term trend weakness. Meanwhile, the 100 SMA is flattening, acting as the last dynamic support before the 200 SMA at $2,450, which represents the true long-term floor. A clean weekly close below the 100 SMA would open the door to a deeper retracement toward that level.

Volume has increased during the recent decline, reflecting forced selling and derivatives-driven liquidations rather than orderly profit-taking. Despite this, the long lower wicks forming near $2,700 suggest buyers are still attempting to defend the area.

Featured image from ChatGPT, chart from TradingView.com

Ethereum lost the critical $3,000 level on Sunday, sliding toward $2,800 and triggering a new wave of fear across the market. The drop highlights a deepening corrective phase that has pushed short-term investors into heavy unrealized losses, prompting many to reassess their risk exposure.

Adding to the uncertainty, fresh on-chain data has revealed renewed distribution from major holders. According to data from Arkham, shared by Lookonchain, the well-known whale 0xdECF deposited another 5,000 ETH—roughly $15.05 million—into Binance.

This move expands a pattern of consistent selling pressure from large wallets, often seen during heightened market stress. While one whale does not define the broader trend, these deposits usually reinforce bearish sentiment among traders who monitor exchange inflows as a proxy for potential sell-side liquidity.

Whale Distribution Deepens Amid Broader Market Anxiety

Since October 28, the same whale wallet has accelerated its selling activity, unloading 25,603 ETH—approximately $85.44 million—across Binance and Galaxy Digital. Despite this aggressive distribution, the wallet still holds 10,000 ETH valued at roughly $30.34 million, leaving open the possibility of continued sell pressure if market conditions weaken further. Large-scale movements like these often signal a shift in sentiment from sophisticated holders who tend to anticipate volatility earlier than the broader market.

This selling spree comes at a moment when confidence is already fragile. The recent Tether FUD, fueled by speculation around reserve transparency and potential regulatory scrutiny, has added stress to liquidity conditions.

Meanwhile, renewed headlines about a supposed China Bitcoin ban have resurfaced on social media, amplifying fear across both retail traders and short-term investors. Although neither narrative reflects new fundamental risks, emotional markets often react sharply to sensational news during corrective phases.

Together, these factors create a backdrop where whale distributions gain outsized influence. If the remaining 10,000 ETH enters exchanges, it could deepen short-term downside pressure. Conversely, a pause in selling may suggest that the whale views current levels as near-capitulation territory, offering a potential floor for stabilization.

Ethereum Price Tests Support as Downtrend Remains Intact

Ethereum’s 4-hour chart shows a market still struggling to regain momentum after losing the $3,000 handle. The broader structure remains decisively bearish, with price trading below the 50 SMA, 100 SMA, and 200 SMA—a clear indication that sellers continue to control the trend. Each attempt to recover above the moving averages has been rejected, reinforcing the downtrend that began in late October and has continued through November.

The recent bounce from the $2,750–$2,800 support zone shows that buyers are defending this level, but the reaction lacks conviction. Volume remains muted, and the latest attempt to reclaim $3,000 quickly failed, forming another lower high. This signals hesitation and suggests that bulls are not yet strong enough to shift market structure.

The compression seen toward the end of the chart formed a small symmetrical triangle, but the breakdown that followed confirms that sellers still dominate short-term momentum. As long as ETH remains below the 200 EMA—now near $3,350—the macro trend favors continuation to the downside.

If $2,800 breaks cleanly, the next liquidity pockets sit around $2,600 and $2,450, levels that could attract stronger buyer interest. For now, Ethereum must reclaim $3,000 with sustained volume to neutralize bearish pressure.

Featured image from ChatGPT, chart from TradingView.com

The leading Ethereum network is witnessing serious engagement even as its price struggles to undergo a major surge. After a massive wave of both new and old investors, the ETH mainnet utilization has increased drastically, reaching levels of adoption not seen since its inception.

Historic Lift-Off For Ethereum Mainnet Utilization

Ethereum is undergoing a shift in network adoption. In a significant landmark that cements its dominance, the Ethereum Maninnet usage has increased to the point where it feels more like a structural awakening than regular growth. 

Leon Waidmann, the founder of On-Chain Foundation and market expert, reported that the ETH mainnet’s utilization is currently at an all-time high. This kind of spike in network traffic may indicate the return of activity from the periphery to the center of the chain, new applications, or even a resurgence of trust in the network’s long-term prospects.

Data shared by the market expert shows the network’s usage in the past 30 days rose to 1.97mags/s, marking its highest level in history. The chart reveals that the rise to a new peak represents a more than 57% increase in Year-Over-Year (YoY), indicating that ETH is moving with intent once again.

While weak network effects and parasitic Layer 2s are being debated within the community, Waidmann highlighted that the Ethereum Mainnet continues to display strong growth and strength. This robust growth is evidenced by the increase in activity, spiking gas fees, and the surge in the number of ETH being burned.

By combining these key factors about the network, Waidmann claims that ETH could attract more economic load. As a result, the leading altcoin may gradually shed its old skin and take on a more rigid financial function.

Waidmann has declared that ETH could become harder money and a settlement collateral. As a result, ETH is starting to resemble the foundation of a future financial structure rather than just a utility token.

ETH Layer 2s Dominates Network’s Transactions

In the midst of surging network activity and adoption, Ethereum layer 2s are now dominating in terms of transactions at a speed that makes the base layer feel nearly slow in contrast. While the center might still hold, the edges are undeniably where users’ action currently resides.

Last week, Waidmann noted that the total Transaction Per Second (TPS) across the Ethereum network reached over 358.21. Meanwhile, a more significant portion of these transactions was carried out on layer 2 networks. According to the data shared by the on-chain Foundation founder, layer 2s controlled over 95.2% of the overall throughput. 

Such a development implies that execution has largely moved to the layer 2 chains. A major reason for this might be that users, liquidity, and developers are looking for quicker and less expensive channels to carry out transactions, transforming ETH’s scaling stack into the ecosystem’s actual heartbeat.

Key takeaways

• ETH is down 5.5% and is now trading below $2,900.
• The leading altcoins could record further losses amid renewed bearish momentum.

The cryptocurrency market is starting another month bearish after the poor performance recorded by Ether and other major coins in November. Ether recorded a temporary relief last week, hitting the $3k psychological level.

However, the recent gains have been wiped out, with Ether now trading around $2,800 after losing 5.5% of its value in the last 24 hours. The negative performance saw over $140 billion wiped out from the crypto market during that period, with the total market cap now below $3 trillion.

Furthermore, the bearish performance saw over $500 million worth of leveraged positions liquidated in the last 24 hours, with Binance, Bybit, and Hyperliquid accounting for 90% of the total liquidations.

Ether and other major cryptocurrencies could face further selling pressure in the near term. However, with the Fed’s FOMC meeting slated for next week, Ether and other leading cryptocurrencies could experience a temporary relief if the Federal Reserve cuts its benchmark interest rate for the third time this year. 

Ether could retest the $2,600 low.

The ETH/USD daily chart is bearish and efficient as Ether has underperformed in recent days. The coin has lost 5.5% of its value since Sunday and is now trading around the $2,840 region. 

If the ETH/USD daily candle closes below the November 21 low of $2,623, the bears could push the price lower over the next few hours or days, with the next major support around the June 22 low of $2,111.

The technical indicators remain bearish, with the RSI of 34 suggesting that sellers are in control. The MACD also risks a cross below the signal line, indicating Ethereum is still bearish.

However, if the bulls recover from the recent selloff, Ether could challenge the trend and push towards the $3k psychological level once again.

The post Ethereum price forecast: Ether risks further downside as bears regain control appeared first on CoinJournal.

Ethereum is trading above $3,050 after enduring weeks of intense selling pressure and a deep capitulation phase among short-term holders. While fear continues to dominate sentiment, new data suggests that market participation has remained surprisingly strong throughout the year. According to a CryptoQuant report by Arab Chain, Ethereum’s real-time trading volume across all major platforms highlights a pivotal period in its 2025 trajectory.

Throughout the year, ETH’s monthly trading activity fluctuated widely. Volume initially dipped into the $280–$380 billion range during the market’s early-year slowdown. However, a major resurgence followed mid-year, driven by heightened volatility, renewed institutional activity, and broader macro shifts. This surge pushed Ethereum’s total monthly trading volume to a cycle peak of over $599 billion in August—one of the strongest liquidity expansions in recent years.

Although activity cooled afterward, the market remained far from inactive. By the end of November, total trading volume still hovered around $375 billion, underscoring persistent engagement from both retail and institutional participants despite bearish price action.

Institutional Activity and Exchange Liquidity Strengthen Ethereum’s Market Structure

Arab Chain explains that the sharp rise in Ethereum’s trading volume reflects significantly improved market liquidity and strong trader engagement amid rapid price swings throughout 2025.

Volatility has been a defining feature of the year, and macroeconomic developments—from shifting futures positioning to broader risk sentiment—have amplified trading behavior. Large traders, in particular, have played an increasingly influential role, responding to futures market dynamics and macro shifts with high-volume transactions that fueled liquidity spikes.

Within this environment, Binance has remained the central hub for Ethereum trading. Data shows that ETH spot volume on Binance alone reached around $198 billion in November, underscoring the exchange’s unmatched influence over real-time liquidity flows and short-term price discovery.

Both institutional and retail traders continue to rely heavily on Binance’s depth, efficiency, and tight spreads, reinforcing its role as the dominant marketplace for major crypto assets.

Meanwhile, Ethereum exchange-traded funds (ETFs) have provided a parallel channel for institutional involvement. ETF trading volume climbed to nearly $35 billion in November, demonstrating substantial interest from traditional investors seeking regulated exposure to ETH.

This structured liquidity has added a stabilizing layer to the ecosystem, further strengthening Ethereum’s overall market profile during a period of heightened uncertainty.

Testing Support After a Deep Multi-Week Correction

Ethereum is attempting to stabilize above the $3,000 level after a sharp multi-week decline that pushed the asset to its lowest point since early 2025. The weekly chart shows that ETH has bounced from a key confluence zone near the 200-week moving average, a historically important region where long-term investors often step in. This rebound suggests that buyers are defending structural support, but momentum remains fragile.

The chart reveals a clear breakdown from the mid-2025 uptrend, with price slipping below the 50-week and 100-week moving averages. These moving averages have now turned into overhead resistance, reflecting a shift in market sentiment. For ETH to regain bullish traction, reclaiming these moving averages will be crucial.

Despite the current bounce, the broader structure shows lower highs forming since the September peak, keeping Ethereum in a vulnerable position. Bulls must protect the $3,000 region and push toward a higher low to avoid a deeper retracement. The coming weeks will determine whether this is a temporary relief rally or the beginning of a larger recovery trend.

Featured image from ChatGPT, chart from TradingView.com

In the rapidly evolving landscape of digital finance, Ethereum is quickly establishing itself as the primary infrastructure for global on-chain capital markets. From tokenized bonds and money market funds to institutional liquidity rails, the world’s capital is beginning to migrate to an ecosystem where transactions are programmable, auditable, and borderless.

Why Is Ethereum Chosen As The Default Choice For Global Rails

The global capital markets are moving on-chain to Ethereum because it is credibly neutral. ETH has never experienced downtime, and it possesses the economic security necessary to support the world’s financial system. Investor and founder of GM42NFT, Captain GM, has stated that ETH is not fast enough to support trading because it wasn’t built for it.

However, the attempts to build a genuinely fast on-chain trading environment have consistently led teams to centralize significant parts of the trading system. This move creates security, reliability, and neutrality concerns for a system designed to be global. These compromises are in direct conflict with the very benefits that ETH provides, and make it the chosen blockchain for global finance.

This is where Raya Network steps in to solve these issues at the core. Raya is delivering a decentralized exchange (DEX) with institutional-grade execution speed and Ethereum-level security. It’s a platform that is as fast as TradFi and remains simultaneously secure, reliable, and credibly neutral as exactly DeFi should be. “Fast is easy, decentralized is hard, and it’s only Reya that does both,” Captain GM noted.

Analyst Alucard mentioned that the Raya network has become one of the few projects that genuinely solves the speed and security problem. The sub-millisecond execution speeds, trades are fully verified on ETH, and there’s no dependence on a single sequencer. This is an engineered combination designed for real progress in the space.

However, over 45% of the token supply is allocated to the community. Reya, combined with the ETH buyback mechanism, creates an ecosystem that’s aligned both technically and economically. They’re building something fast and secure, and because of that, Reya sits in a different category.

Why Reya’s Design Feels More Like A New Standard Than Another DEX

A trader and ambassador of Somnia, Onur, has also explained that his experience with Reya feels like a full redesign of on-chain execution rather than a small improvement. It offers sub-millisecond fills, unified margin, Ethereum security with ZK settlement, and smooth flow through EigenDA.

According to Onur, the peer-to-pool model keeps trades consistent, efficient, and free from bottlenecks or hidden edges. As a result of this approach, Reya isn’t just another venue anymore, and it’s actively becoming the new execution standard for DeFi.

A pseudonymous analyst has set off a new narrative around Ethereum’s upcoming Fusaka upgrade, arguing it could be the most favorable event ever for ETH as an asset by finally turning Layer-2 networks into meaningful ETH burners.

On X, crypto pundit Kira Sama framed Fusaka, scheduled for December 3, as a structural shift in Ethereum’s fee economics. The core of the thesis is a single change: EIP-7918.

“Price wise, Ethereum Fusaka upgrade on december 3rd, will be the most bullish upgrade for eth the asset ever, why? One reason. ‘EIP 7918’,” Kira wrote, calling it “the next big catalyst for eth burn.”

Ethereum L2 Will Burn ETH

Kira’s argument rests on how Ethereum currently treats L2s. Since the rollup-centric roadmap took shape, Ethereum’s base layer has effectively subsidized L2 data availability. In his words, “for a long time, ETH L1 charged zero base fees to L2s, while L2 deployers made millions of profits. So L2s haven’t burnt any meaningful eth.” That subsidized regime has fueled explosive L2 growth but also limited how much L2 usage translates into ETH burn.

EIP-7918 is designed to change that by tying L2 data costs more tightly to mainnet gas prices. Kira summarizes it as follows: “L2 fees will be bounded by the execution cost which will help us reach L2 fees price discovery faster. It also helps maintain the fees during spikes so that L2 users won’t be rugged from absurd tx fees. Win-win.” In practice, that means rollups will face a non-trivial, protocol-enforced minimum on what they pay Ethereum for posting their batches.

Crucially for ETH holders, those fees are paid in ETH and a portion is burned under the EIP-1559 mechanism. Kira argues that as L2 throughput scales, this will become a dominant driver of ETH’s burn dynamics: “They will just pay their fair share to Ethereum L1 and burn meaningful eth. It will be slow and steady at the beginning. This will eventually result in burning millions of dollars of eth long term and L2s will be main driving force of making eth deflationary.”

The narrative becomes more aggressive when Kira extrapolates to corporate and institutional rollups. He lists a series of existing and anticipated L2s and claims that “Coinbase’s base will burn eth, Robinhood’s L2 will burn eth, OpenAI’s Worlchain will burn eth, Sony’s Soneium will burn eth, Alibaba’s Jovay will burn eth, UAE’s ADI chain burn eth, Kraken’s Ink will burn eth, Lighter will burn eth, Deutsche Bank’s Memento chain will burn eth, Arbitrum will burn eth etc etc etc. Corporations will start burning eth.”

From that, he extends the thesis to a broader, highly bullish vision: “Every company in the world will launch their own layer 2. Every alt-L1 will become L2 and start burning eth. Eth inflation will shrink.” While those universal claims go far beyond what the upgrade itself guarantees, they capture the heart of the bullish narrative: if enough economic activity migrates onto Ethereum-secured L2s that must pay non-negligible base fees, Ethereum becomes the settlement and value-capture layer beneath corporate and institutional chains.

Kira explicitly compares Fusaka to the London hard fork that introduced EIP-1559 in 2021. “When Ethereum introduced burn through eip-1559 in 2021, it lifted the whole market up,” he wrote. “Everyone will be caught off guard this time as well. L2s burning eth incoming. Bullish eth. Bullish L2s.” For now, Kira is clear about his own conclusion: “December 3rd, tik-tok. The ticker is ETH.”

At press time, ETH traded at $3,022.

Ethereum’s price is displaying signs of bullish momentum once again as the leading altcoin reclaims the $3,000 mark following a rebound across the broader cryptocurrency market. While the price has picked up pace, the ETH derivatives market is heating up, with futures demand rising sharply compared to the spot market.

Futures Appetite Surges Ahead Of Spot Buying

With the price of Ethereum displaying renewed upward strength, the altcoin appears to be changing its tempo, and this change is not coming from where most traders typically look. A recent report from CryptoQuant, a leading on-chain data analytics platform, has revealed a notable divergence between the futures and spot markets.

In the quick-take post, market expert and author with the pseudonym Crazzyblockk highlighted that the futures markets have accelerated significantly while spot activity continues to lag behind. Simply put, demand for futures is surging ahead of spot buying, indicating a shift among ETH investors or traders.

When this key trend emerges, it often serves as an early tremor that frequently precedes more significant developments in Ethereum’s narrative. It suggests that individuals betting on tomorrow may write the next chapter of ETH price action instead of accumulating today.

Over the last several days, ETH’s futures-to-spot ratio has steadily moved higher from the mid-5 range to nearly 6.9 on the most recent reading. Crazzyblockk stated that the rising multiple shows there is a fast increase in speculative interest around Ethereum than spot market participation. What this means is that traders positioning through leveraged markets are expanding rather than acquiring through spot.

In comparison to other major digital assets in the dataset, ETH currently holds the most robust futures demand relative to its spot volume. While Bitcoin and Solana maintain stable ratios in the 3.5–4.5 zone, the altcoin remains the leader and is widening the gap. 

ETH Traders Are Choosing Directional Exposure

The divergence points to an environment where traders are opting for directional exposure in ETH more aggressively than in other large assets. Meanwhile, the increase in futures participation could be a sign of impending catalysts or growing expectations for volatility unique to the Ethereum ecosystem.

According to the market expert, the consistency of this upward trajectory is important to the market. When market players expect greater short-term price movement, a rising futures multiple usually arises. Currently, the data indicates that Ethereum traders are sharply positioning ahead of potential trend acceleration.

However, whether this development leads to a persistent upward momentum or short-term volatility, the path remains clear. The behavior reflects heightened conviction and a noticeable change in Ethereum’s trading dynamics toward those driven by derivatives.

At the time of writing, the ETH price was trading at $3,007, demonstrating a 0.73% decline in the last 24 hours. Its trading volume has sharply dropped in the past day by more than 33%, indicating waning sentiment among ETH investors.

Ethereum has struggled greatly during the last few weeks, losing the psychological $3,000 level and triggering what many believe to be the start of another bear run. During this time, sentiment has taken an even bigger hit, plunging so far into the negative territory that it’s sitting at levels not seen in years. Naturally, this negative sentiment has triggered fear among investors, but this period of extreme wariness could serve as an opportunity to scoop up the altcoin at low prices.

Fear Could Be Presenting An Opportunity

With the Ethereum price still trending low, crypto analyst Sporia believes that this could be a good time for the price to bounce. Firstly, the analyst points to the fact that crypto market sentiment has not been bad since the COVID crash of 2020. Interestingly, though, the Bitcoin price had been below $10,000 back in 2020, and now, it’s trending between $80,000-$100,000, and this sentiment is this low.

With the Fear & Greed Index hitting new yearly lows and falling into Extreme Fear, everything may look bleak. However, Sporia opines that this could be a time for opportunity, especially for meme coins like Ethereum. The price has already seen a major crash, sending it below $2,700, but there are still factors that show this might be a good opportunity.

For one, the crypto analyst pointed out that the Ethereum price has just finished Wave 2 of its Elliot Wave Count. This means that the altcoin is now headed into Wave 3, a bigger bullish trend than the Wave 1 that sent its price above $4,900 earlier.

With Wave 3 yet to begin, the analyst believes that the Ethereum price has not hit its peak. Rather, this is more of a stopgap, and the real move is coming. Sporia expects ETH to cross the 5-digit threshold, predicting 2026 to be a very bullish year.

How High Can The Ethereum Price Go In 2026?

By the time the third wave is completed, Sporia expects that the Ethereum price will have climbed as high as $11,000. This bullish run is expected to end sometime in May 2026, leading to the next wave. Wave 4 is a bearish wave and the analyst expects Ethereum to crash ~50% as a result. However, this crash is expected to be only temporary.

The final and most bullish wave of all, Wave 5, will follow after the Ethereum price finds its bottom with the ~50% crash. Once established, this wave will push the price toward new peaks, with the low-end target placed at $18,000 and the high-end at $25,000.

As for the timeline for this, the crypto analyst predicts that all of this will play out by the last quarter of 2026, or into the first quarter of 2027. “No breakout yet, but notice the deep pullbacks it always has right before the eventual clean break higher. We’re following the exact same script,” Sporia said.

Ethereum (ETH) has joined Bitcoin (BTC) in a notable price recovery, managing to reclaim the $3,000 mark. This resurgence could signify a pivotal moment for the altcoin, suggesting a potential new upward trend. However, investors remain divided on whether ETH may face further declines or if a year-end rebound could reignite bullish sentiment.

ETH’s December Struggles

In order to anticipate Ethereum’s probable moves in December, Alex Carchidi, an analyst at The Motley Fool, notes that this month has traditionally been a difficult month for the cryptocurrency. Since 2016, Ethereum has only concluded December higher than it started in four of the nine years studied. 

In the remaining five cases, the month ended in negative territory. The average December return throughout this span is about 7%, indicating that a strong “Santa rally” is improbable. The median performance shows a 6% drop. 

Examining the relationship between November and December reveals a more intriguing pattern. Between 2016 and 2024, when November has been weak for ETH, December often followed suit, with three out of four instances showing declines. 

The only outlier was in 2018, when Ethereum rebounded in December after a particularly harsh downturn in November. This historical context suggests that a poor performance in November could carry over into December, making a cheerful month less probable.

But while December’s performance has historically been mixed, the beginning of the year has typically shown strong potential for the Ethereum price, particularly in the first and second quarters. 

In fact, average returns tend to peak in the first quarter at around 77% and the second quarter at approximately 64%, indicating that there may still be significant growth on the horizon for the leading altcoin.

Tom Lee Foresees Ethereum Surging To $7,000 

Amidst this hypothetical scenario, Tom Lee, chairman of BitMine Immersion Technologies and a major industry advocate, predicts a bright future for Ethereum in the near and long term. 

The executive believes that the cryptocurrency could surge to $7,000 per coin heading into the first quarter of 2026, reflecting a nearly 150% price surge from its current value. 

Lee is even more optimistic about the long term, predicting that if his vision for a decentralized financial system materializes, the Ethereum price could soar by 2,090% to reach $62,000 by 2035.

After a challenging year in which ETH significantly underperformed its peers, it has shown increased resilience, especially following the recent crash in crypto prices that saw the token’s valuation drop to $2,600 last Friday. 

Currently, ETH is trading just above $3,000. While this is not bullish enough to outpace the recent crash, ETH is positioned to recover significantly if demand and capital flow back into exchange-traded funds (ETFs) as the year comes to a close. 

Featured image from DALL-E, chart from TradingView.com