As of November 20, 2024, Ethereum (ETH) is trading at $3,076, recovering 4% from a daily low of $3,069.

Ethereum's price rally is currently facing resistance levels between $3,352 and $3,497, with key support at $2,886 that could push prices toward $4,000 if maintained.

However, if support at $2,829 fails, Ethereum could experience a 9% drop to around $2,564 or even $2,309 in a bearish scenario.

Current gas fees on the Ethereum network are low at 9.825 Gwei, promoting increased transaction activity and interest from investors.

Recent upgrades to Ethereum's blockchain, including the shift to Proof-of-Stake via 'Dencun' and 'Shapella', have improved scalability, decentralization, and security.

With a market cap of $370 billion, Ethereum remains the second-largest cryptocurrency after Bitcoin, which has a market cap of $1.85 trillion.

Year-to-date, Ethereum has gained 8.17%, indicating steady but modest growth in price.

Despite a 46% rally over the past eight days, Ethereum's market cap is significantly lower than its all-time high of $571 billion reached in 2021.

This price increase aligns with Bitcoin's 0.90% gain, although investors remain cautious as the market tests key resistance levels.

Long-term forecasts between 2025 and 2029 suggest Ethereum could trade between $2,500 and $4,672, with optimistic projections for 2050 estimating prices could reach as high as $126,482.

Investors are advised to monitor key support levels to better gauge short-term price trends.