Ethereum (ETH) Price Prediction November 2025: Can the Bulls Regain Momentum?

Ethereum (ETH) enters November 2025 with cautious optimism after a volatile October. The second-largest cryptocurrency by market capitalization slipped nearly 7% last month despite broader market strength following the Fed’s rate cut. 

However, historical data suggests that November has often been a turning point for ETH, with average monthly gains of nearly 7% over the past eight years.

As Ethereum navigates mixed on-chain signals, investors are watching whether whale accumulation can offset selling from long-term holders. With the current setup hinting at hidden bullish momentum, November could define Ethereum’s trajectory for the final stretch of the year.

Key Takeaways

• Historically, Ethereum averages over 6.9% monthly gains in November.
• Whales have accumulated more than 1.6 million ETH in October despite price weakness.
• The Net Unrealized Profit/Loss (NUPL) shows fading selling pressure among investors.
• A hidden bullish divergence in ETH’s RSI suggests sellers are losing strength.
• Key resistance zones lie between $4,070–$4,240, while major support remains around $3,510.

Ethereum’s Historical November Pattern

Ethereum’s past performance provides context for optimism. Over the last eight years, ETH has averaged nearly 7% gains during November, with standout months such as 2024, when it surged by 47.4%. This consistent uptrend during the month has built investor expectations that history might once again favor the bulls.

While October ended with a 6.8% decline, data from CryptoRank indicates that ETH tends to rebound after weak months when on-chain indicators align favorably. The current macro setup, coupled with renewed whale interest, hints that Ethereum might repeat this pattern in 2025.

Read Also: Ethereum Steadies at $3800 as Traders Prepare for a Rebound

On-Chain Sentiment: Selling Pressure Fades

Ethereum’s Net Unrealized Profit/Loss (NUPL) metric offers insight into investor psychology. According to Glassnode, NUPL dropped from 0.43 to 0.39 since late October—a 9.3% decline—suggesting reduced incentive to sell. Historically, this level has coincided with rebounds of over 10%, signaling the potential for renewed accumulation.

When profit margins narrow, short-term holders tend to reduce selling pressure, paving the way for stabilization and gradual upward momentum. This is often a precursor to reaccumulation phases, where long-term investors begin positioning for the next wave higher.

Whale Accumulation Strengthens

While retail sentiment remains cautious, Ethereum whales have quietly expanded their holdings. On-chain data from Santiment shows that wallets holding between 1,000 and 100,000 ETH added around 1.64 million ETH in October—equivalent to roughly $6.4 billion at current prices.

This large-scale accumulation despite a 7% monthly price drop demonstrates conviction among institutional and high-net-worth investors. Whales appear to be front-running a potential recovery, betting on Ethereum’s staking yield, deflationary tokenomics, and its pivotal role in tokenized finance.

Divergence Between Whales and Long-Term Holders

Interestingly, the Holder Accumulation Ratio (HAR) has declined from 31.27% to 30.45%, showing that long-term holders have slowed accumulation. This divergence highlights a shifting market structure where whales dominate buying, while smaller holders remain cautious.

Such divergence often defines transition periods—moments when market leadership passes from weak hands to strong ones. If HAR stabilizes in November, retail participation could strengthen, amplifying whale-led momentum into a full-scale recovery.

Technical Outlook: Hidden Bullish Divergence in Play

Ethereum’s technical structure reinforces a cautiously bullish narrative. On the 2-day chart, ETH exhibits a hidden bullish divergence—a setup where price forms higher lows while the RSI forms lower lows. This signals fading selling strength and potential for continuation of the broader uptrend.

ETH currently trades near $3,860, facing initial resistance at $4,070 and major resistance at $4,240. A confirmed close above $4,240 could open the door to $4,500–$4,700, aligning with projections from market analysts like Shawn Young of MEXC.

On the downside, $3,790 serves as immediate support, while $3,510 represents a crucial floor that, if broken, would invalidate the bullish bias.

Read Also: Ethereum Makes Strategic Shift! Here are the Details

Whale Confidence and Market Recalibration

According to Young, the ongoing recalibration toward higher-beta assets could accelerate as Bitcoin stabilizes, putting Ethereum in a favorable position. The combination of staking yield, network expansion, and institutional adoption enhances ETH’s appeal as a hybrid growth and income asset.

As he explains, “Either way, the macro structure appears constructive. The network continues to scale, transaction demand remains robust, and staking keeps absorbing supply pressure.”

This suggests that Ethereum’s current price action is less about weakness and more about consolidation before the next move higher. The interplay between whale accumulation and improving fundamentals positions ETH as a candidate for an upside breakout if market liquidity improves through November.

Broader Market Context

Ethereum’s November outlook cannot be viewed in isolation. The broader crypto landscape remains anchored by macroeconomic shifts, particularly after the Fed’s rate cut, which has renewed interest in risk assets. If Bitcoin maintains stability above key support levels, capital rotation into Ethereum could gain traction.

Moreover, the expansion of tokenized assets and Ethereum’s growing role as the base layer for real-world asset infrastructure reinforce its long-term thesis. Staking yields, coupled with reduced supply issuance post-merge, continue to provide a supportive backdrop even amid short-term volatility.

Final Thoughts

Ethereum’s November 2025 outlook appears cautiously optimistic. Despite short-term hesitation from long-term holders, the convergence of historical seasonality, whale accumulation, and technical divergence hints at a potential recovery phase.

A break above $4,240 could set the stage for a push toward $4,600 or even higher if momentum sustains. Conversely, a drop below $3,510 could delay the rebound, keeping ETH in an extended accumulation zone.

Overall, Ethereum’s blend of on-chain strength, institutional accumulation, and improving technical structure positions it as one of the stronger assets heading into the final quarter of 2025.

Read Also: Ethereum ETFs in 2025: Invest Early on Bitrue

FAQs

What is the Ethereum price prediction for November 2025?

Analysts expect Ethereum to trade between $3,500 and $4,700 in November 2025, with potential upside if whale accumulation persists and RSI divergence confirms a breakout.

Why are Ethereum whales accumulating ETH?

Whales are increasing holdings due to Ethereum’s staking rewards, expanding tokenized asset ecosystem, and favorable long-term network fundamentals.

What are Ethereum’s key resistance and support levels?

Ethereum faces resistance at $4,070–$4,240 and support around $3,790–$3,510. A breakout above $4,240 could signal the start of a new rally.

Is November historically a good month for Ethereum?

Yes. Over the past eight years, November has been one of Ethereum’s strongest months, with average gains near 7% and notable rallies in years like 2024.

Could Ethereum reach $5,000 in 2025?

If macro conditions remain favorable and Ethereum maintains its deflationary token supply while adoption grows, a move toward $5,000 in 2025 is plausible.