As of November 29, 2025, Ethereum (ETH) is trading almost perfectly on a knife-edge: around $3,000 per coin, slightly lower on the day but up strongly on the week. Live market data puts ETH near $3,000–$3,050, down about 1% in the last 24 hours but roughly 10–12% higher than a week ago. ^[1]

This article walks through:

• What moved Ethereum’s price on November 28–29, 2025
• The latest bullish and bearish forecasts from banks, analysts, AI models, and on‑chain data
• How upcoming upgrades like Fusaka and the broader danksharding roadmap could shape ETH’s next big move
• Key price levels to watch into December and through 2026

Disclaimer: This article is for information and education only. It is not financial advice. Crypto assets are highly volatile and you can lose all of your capital.

Ethereum Price Today (Nov 29, 2025)

• Spot price: ~$3,000–$3,050
  • A global price feed shows ETH at about $3,000.33, with an intraday high near $3,091 and a low around $2,993.
• Yesterday’s close (Nov 28):
  • Historical data from major trackers shows ETH closed on November 28 just above $3,030, after trading roughly between $2,996 and $3,093 during the session. ^[2]
• Weekly move:
  • Across the last seven days, Ethereum has rebounded double‑digits (around 10–12%), helped by a bounce from the $2,870 area and a consistent battle to reclaim and hold the $3,000 psychological level. ^[3]

In short, ETH is not soaring, but it is defending a crucial zone that many technical analysts see as the dividing line between a deeper correction and a fresh leg higher.

What Just Happened? Key Ethereum Headlines from Nov 28–29, 2025

1. Market-wide pressure, but ETH clings to $3,000

On November 28, the broader crypto market traded lower as:

• Renewed regulatory pressure
• A broad deleveraging in derivatives
• And a technical breakdown across major charts

all weighed on sentiment, dragging total crypto market cap down to roughly $2.98 trillion, about 5% lower over the week. ^[4]

Even so, Ethereum showed resilience:

• Binance market data pinned ETH around $3,018, with a daily range of $2,986–$3,042 and key support between $2,990 and $2,850. ^[5]
• A separate Binance update recorded ETH briefly dipping below $3,000 to about $2,999, down 1.3% on the day, before reclaiming the level. ^[6]
• 99Bitcoins’ daily roundup on November 29 described ETH “grinding up” just above $3,000, as markets stabilized after a major Chicago data center outage disrupted trading infrastructure. ^[7]

Meanwhile, a Barron’s market note framed November as a “terrible month” for crypto, with Bitcoin down more than 16% and Ethereum also under pressure, even as both tried to end the month on a more positive week. ^[8]

2. Ethereum’s bounce from $2,870 support

Price‑action specialists zeroed in on Ethereum’s bounce from a key support zone:

• CryptoPotato’s November 28 price analysis highlighted a strong rebound from around $2,870, with ETH closing the week up roughly 10%, and eyeing $3,300 as the next major resistance if the bounce continues. ^[9]
• Another CryptoPotato/TradingView analysis noted that ETH had finally reclaimed the $3,000 level after weeks of downside, but warned that traders remain cautious given significant overhead resistance. ^[10]

At the same time, a separate CryptoPotato piece argued that Ethereum had returned to a historic long‑term trendline stretching back to 2016, with analysts watching the $3,000 zone as a potential launchpad toward a long‑term target as high as $10,000, if the current cycle plays out like prior ones. ^[11]

3. Mixed short-term signals: bearish channels vs. bullish defenses

The technical picture across November 28–29 is decidedly mixed:

• A Cryptonews analysis describes ETH trading in a descending channel since mid‑October, with repeated rejections near $3,108 (around the 20‑day EMA), framing the current bounce as part of a broader corrective pattern. ^[12]
• A detailed note from Ainvest similarly emphasizes a medium‑term downtrend with lower highs and lower lows, plus an RSI near 29, signaling oversold conditions but confirming bearish momentum. It warns that a decisive break below $3,000 could open the door toward $2,870 and lower in the short term. ^[13]
• Yahoo Finance and BeInCrypto both ran pieces on November 29 highlighting that Ethereum’s chart is flashing a “bearish warning” as key sellers step back in around resistance, raising the risk of a longer-term trend shift if bulls fail to hold the line. ^[14]

On the flip side:

• Binance’s November 28 report notes ETH is still up about 11.6% on the week despite daily weakness, and identifies a bullish trigger on a close above $3,100, potentially confirming a more durable reversal. ^[15]
• Multiple analyses talk about ETH “defending” the $3,000 level, treating it as the battlefield between short‑term bears and dip‑buyers aiming for a move toward $3,300–$3,500. ^[16]

4. AI and quant models: “Hold $3,000 now, higher later?”

Quantitative and AI‑based models also chimed in over the last 48 hours:

• A Finbold feature notes that an AI model projects ETH will remain above the $3,000 support into December 1, 2025, framing the current zone as a consolidation area rather than a clear breakdown or breakout. ^[17]
• Separately, CryptoPotato reported on a valuation dashboard built by Hashed CEO Simon Kim, applying 12 different valuation methods (from discounted cash flow and revenue yield to total value locked multiples, Metcalfe’s Law and “settlement layer” premiums). The composite “fair value” for ETH came out at about $4,869, versus a spot price just under $3,000, implying the asset is over 60% undervalued by that model. ^[18]

Not all metrics are bullish, though. An on‑chain analysis widely cited via NewsBTC and CryptoRank shows MVRV pricing bands pointing to a potential local bottom near $2,007 — roughly a 28% drop from late‑November levels — before a new mid‑cycle run that could eventually push ETH toward around $6,000. ^[19]

In other words, data-driven models agree that the long‑term upside could be much higher than today’s price, but they disagree sharply on whether we first revisit the low‑$2,000s before that next leg up.

Network Fundamentals: Dencun, Fusaka and the Road to Full Danksharding

While charts dominate the headlines, Ethereum’s technology roadmap is arguably the main driver behind the most aggressive bullish forecasts.

Dencun and proto‑danksharding: cheaper data, stronger L2s

The Dencun (Cancun–Deneb) upgrade, which went live on mainnet in March 2024, introduced EIP‑4844, also known as proto‑danksharding. ^[20]

Key impacts:

• Adds “blob” transactions — a new type of data that can be pruned after a period, drastically reducing the cost for rollups to post data to Ethereum L1. ^[21]
• Expands effective block data capacity, improving the economics of Layer‑2 scaling solutions like Optimism, Arbitrum, Base, and others. ^[22]

Security firm Hacken notes that by offloading large chunks of data into blobs, rollups can cut settlement costs while maintaining Ethereum’s security guarantees, directly addressing one of the biggest pain points of the 2021–2022 cycle: high fees at peak usage. ^[23]

Fusaka (Dec 3, 2025): the next big catalyst

The next major upgrade, Fusaka, is scheduled to activate on the Ethereum mainnet on December 3, 2025 at 21:49:11 UTC, with follow‑up “Blob Parameter Only” (BPO) forks in December and January to further increase data throughput. ^[24]

Highlights from CCN’s technical breakdown: ^[25]

• PeerDAS (EIP‑7594): data availability sampling that lets each full node store only a fraction of L2 blob data, potentially cutting per‑node bandwidth and storage by ~90% while enabling much higher data capacity.
• Blob parameter forks (EIP‑7892): small, targeted forks to raise blob limits over time (e.g., from 6 to 14 blobs per block), scaling as rollup demand grows without needing a full hard fork for each adjustment.
• Gas and block limit tweaks (EIP‑7935, others): higher gas limits and a hard cap on block size to safely handle more transactions per block.

Together with Dencun, Fusaka is widely seen as another major step toward the endgame of full danksharding, which the official Ethereum roadmap says will eventually enable massive throughput while preserving decentralization. ^[26]

CryptoRobotics, in a November 29 analysis, argues that this flurry of Layer‑2 and data‑availability innovation is redefining Ethereum’s market role, creating a “new playing field” for both DeFi and institutional use cases and fueling optimism about ETH’s long‑term prospects. ^[27]

Institutional Adoption and Tokenization: Amundi, BitMine and RWAs

Another major theme in this week’s news is traditional finance moving onto Ethereum.

Amundi launches Europe’s first tokenized money market fund on Ethereum

On November 29, Access Asia Group reported that Amundi — Europe’s largest asset manager, with around €2.2 trillion under management — has launched Europe’s first tokenized money market fund on the Ethereum blockchain. ^[28]

Key points:

• The new tokenized product is a blockchain‑based version of Amundi’s existing €5 billion CASH EUR money market fund, which holds short‑term government and high‑grade euro debt. ^[29]
• Industry data cited in the same report shows total tokenized real‑world assets (RWAs) have surged to about $36.1 billion as of November 28, 2025, up from just $770 million at the end of 2023, with Ethereum hosting about 64% of that value — and over 72% if you include its Layer‑2 ecosystems. ^[30]
• Major players like SWIFT, Visa, Mastercard and Western Union are all experimenting with Ethereum and its L2s for settlement and cross‑border payment pilots. ^[31]

Ainvest adds that tokenized RWAs on Ethereum have grown about 27% quarter‑over‑quarter to roughly $7.4 billion in certain tracked categories, underscoring steady institutional adoption. ^[32]

BitMine’s giant ETH treasury and the “supercycle” thesis

The same Amundi article highlights BitMine Immersion Technologies, described as the world’s largest Ethereum treasury company, which recently boosted its ETH holdings by $44 million, bringing its stash to 3,629,701 ETH — around 3% of total supply — with an aim to reach 5%. ^[33]

BitMine chairman Tom Lee (also of Fundstrat) has characterized Ethereum as entering a potential “supercycle”, fuelled by:

• The migration of traditional finance to blockchain
• Ethereum’s role as settlement layer for tokenized assets and L2s

In a separate interview covered by The Economic Times, Lee predicts that ETH might dip toward $2,500 in the near term but could then rally to $7,000–$9,000 in early 2026, potentially outperforming Bitcoin as institutional tokenization ramps up. ^[34]

This institutional narrative — tokenization + staking + L2 fees — is central to many of the more aggressive Ethereum price forecasts.

Ethereum Price Forecast: Short-, Medium- and Long-Term Views

Forecasts published around November 28–29 span a very wide range. Here’s how they loosely cluster.

1. Short term (Next days to 1 month): Battle for $3,000–$3,500

Support and resistance

Across multiple November 28–29 notes:

• Support levels most frequently cited:
  • $2,870 – recent bounce zone
  • $2,900–$2,990 – key short‑term floor
  • $2,500 – deeper support some analysts (including Tom Lee) see as possible before a new rally ^[35]
• Resistance levels:
  • $3,100 – short‑term bullish trigger
  • $3,300 – next target if the $2,870 bounce holds
  • $3,500 – broader resistance identified by several technical analyses ^[36]

What analysts and models are saying

• AI & quant: Finbold’s AI model expects ETH to remain above $3,000 into December 1, consistent with a consolidation / defense of current support. ^[37]
• Bullish short‑term takes:
  • Cryptonews describes the current action as “$3,000 key level defended”, and says a sustained move higher could eventually target $5,000 if ETH breaks out of its descending channel. ^[38]
  • Brave New Coin revives a $6,000 call after ETH reclaimed the $3,000 area, tying upside to ETF inflows and a breakout from recent consolidation. ^[39]
  • CryptoPotato’s trendline analysis speculates on a path toward $10,000 if the historical pattern from prior cycles continues from this 2016 trendline. ^[40]
• Bearish / cautious short‑term takes:
  • BeInCrypto and Yahoo Finance both warn that the chart is flashing a bearish warning, with returning sellers at resistance and the risk of a “long‑term risk” if support fails. ^[41]
  • Ainvest points to a descending channel and an oversold RSI: conditions that can precede a bounce but also confirm a medium‑term downtrend, especially if $3,000 breaks. ^[42]
  • On‑chain MVRV bands suggest a potential drop toward ~$2,000 could still be needed to fully reset valuations. ^[43]

Reasonable short-term takeaway (not advice):
Into early December — especially with the Fusaka upgrade on December 3 — ETH looks likely to stay volatile around the $3,000 mark, with:

• Upside scenarios testing $3,300–$3,500 if Fusaka goes smoothly and macro risk (Fed, regulation) calms down
• Downside scenarios revisiting $2,870 or even the mid‑$2,000s if risk‑off conditions intensify or the upgrade introduces uncertainty

2. Medium term (2026): 4,000–9,000+? A wide cone of possibilities

Medium‑term forecasts published this week show less agreement on timing, but surprising agreement on direction: most are bullish, though the ranges are huge.

Examples:

• Ainvest projects ETH could reach around $4,200–$4,500 by 2026, assuming ETF inflows stay positive, tokenized RWAs continue to grow, and upcoming upgrades deliver as expected. ^[44]
• Tom Lee (Fundstrat) is significantly more aggressive, calling for a move to $7,000–$9,000 in early 2026, even while acknowledging a possible dip to $2,500 in the interim. His thesis leans heavily on Ethereum’s developer ecosystem and its role in institutional tokenization. ^[45]
• Brave New Coin keeps the $6,000 target in focus, tying it to a successful breakout from current consolidation, strong ETF inflows, and broader risk‑on conditions. ^[46]
• On‑chain analysis via NewsBTC suggests a mid‑cycle target around $6,021 once a proper local bottom (possibly near $2,000) is in place. ^[47]

Overlay these views with Ethereum’s roadmap — where the Portofino analysis notes that The Merge, Dencun, and upcoming upgrades like Pectra position ETH as the backbone of a “programmable economy” — and you get a medium‑term consensus that today’s price is below where most long‑term models expect ETH to settle once this cycle matures. ^[48]

3. Long term: dependent on execution, competition and regulation

If you go beyond 2026, forecasts become far more speculative, but they largely hinge on three questions:

1. Execution risk: Can Ethereum continue to ship complex upgrades like Fusaka, future BPO forks, and full danksharding without major issues? ^[49]
2. Competitive landscape: How much market share do fast L1 competitors and their ecosystems (Solana, others) take from Ethereum’s DeFi and NFT dominance? Recent reports highlight that several altcoins have outperformed ETH this week, even as the broader market stumbles. ^[50]
3. Regulation and macro: From ETF approvals to staking rules and global rate cuts, macro decisions can either supercharge or strangle crypto risk appetite. Binance’s November 28 note, for example, highlights Fed rate‑cut odds and regulatory headlines as key drivers of near‑term volatility. ^[51]

In a world where Fusaka succeeds, danksharding lands, tokenized assets keep exploding higher, and Ethereum remains the primary settlement layer for DeFi and RWAs, the more optimistic targets (e.g., $10,000 over a multi‑year horizon) are not purely fantasy — but they are very much scenario‑dependent, not guaranteed. ^[52]

Key Risks to the Ethereum Price Outlook

No serious price discussion is complete without looking at what could go wrong:

1. Macro shock: A sharper‑than‑expected economic slowdown, renewed inflation fears, or delayed rate cuts could crush risk appetite and send capital fleeing from crypto. ^[53]
2. Regulatory clampdowns: New rules targeting staking, DeFi, stablecoins or crypto ETFs could hit Ethereum disproportionately, given its central role in these sectors.
3. Upgrade or security issues: Even with rigorous testing, major upgrades like Fusaka carry non‑zero risk of bugs, DoS vectors, or unexpected economic side effects. ^[54]
4. Competition and user migration: If developers and users migrate en masse to other L1s or L2 ecosystems, Ethereum’s fee revenue, staking yields and “network effects” could erode over time. ^[55]

Practical Takeaways (Again, Not Financial Advice)

Putting all of this together:

• Right now: ETH is hovering around $3,000, a level everyone is watching. Bulls see it as springboard support; bears see it as last line before a deeper flush.
• Into December: The Fusaka upgrade on December 3 is the key near‑term catalyst. A smooth rollout plus calm macro conditions could justify attempts on $3,300–$3,500. A messy upgrade or risk‑off shock could re‑open $2,870–$2,500 and even the MVRV‑implied ~$2,000 area. ^[56]
• 2026 and beyond: Most institutional, fundamental and on‑chain narratives lean bullish, with published targets clustering between $4,200 and $9,000 for the next cycle — but with major disagreement about the path and drawdowns along the way. ^[57]

If you’re following Ethereum for trading or investing purposes, the most constructive way to use these forecasts is not to anchor on a single target like “$6,000” or “$10,000”, but to think in scenarios and ranges, and to match that with:

• Your time horizon
• Your risk tolerance
• And the share of your portfolio you’re genuinely willing to see drop 50%+ in a worst‑case crypto drawdown

For anything beyond that — including decisions about how much to allocate, if any — it’s wise to speak with a qualified financial adviser who understands both crypto and your personal situation.