$ETH Ethereum Trends for November 28, 2024
Today, Ethereum (ETH) is trading at around $3,596, experiencing a slight decline of 0.44% in the past 24 hours, but showing strong gains of 18.46% over the past week. The cryptocurrency has seen growing interest, with institutional investors significantly increasing their exposure through CME Ethereum futures, where open interest recently hit a record high of $2.5 billion.
In technical analysis, Ethereum has been outperforming Bitcoin recently, as evidenced by a rise in the ETH/BTC ratio by nearly 15%. However, market signals suggest caution, with patterns such as bearish divergences and rising wedges indicating potential price corrections.
Key metrics to watch include Ethereum's daily trading volume, currently at $44.27 billion, and its gas fees, which remain low at 14 Gwei, attracting more users to the network. Price forecasts for the coming days suggest a gradual climb toward $3,700 if the momentum sustains.
Keep an eye on ETH’s performance against major resistance levels and the broader market sentiment for a clearer outlook.