On November 29, 2025, the price of Ethereum was $3074.75, rising 2.64% in the past 24 hours. Currently, it is in a short-term consolidation phase, with a moderate Bull vs Bear Battle, and the range to follow is $2850 - $3150.

On-chain, the total locked value has decreased, with weekly network fees down by 13%, and weakened on-chain activities are impacting the deflation narrative. In the market, long-term holders are buying on dips, but early participants are selling their chips, and the long-short ratio of top traders leans bearish.

On a macro level, the Federal Reserve's expectation of a rate cut in December provides support, but issues such as layoffs in American companies and expanding deficits may cause institutions to reduce their positions in high-volatility assets like Ether, making it difficult to reach $4000 in the short term. Attention needs to be paid to indicators such as network fees and labor data. #Ethereum