On December 25, 2025, Ethereum hit the $2,921 mark, its market cap at $352.6 billion and the volume of trading over the last 24 hours was $11.47 billion. Throughout 2025, ETH moved from a start at $3,298 to a peak of $4,390 in August, with the record high of $4,942, before ending the year at $2,921. The year’s total price volatility measured about 141 percent.
The weekly RSI stands at 41.7 signaling a neutral-to-bearish momentum and the daily MACD histogram is -0.15, with the price range between $2,774 and $3,038. Total futures open interest reached $37.3 billion, suggesting a decline in leverage. Fundstrat presented divergent scenarios, one with a $20,000 target and another baseline projecting ETH to slip to $1,800-$2,000 in the first half before rising to $4,500 by year end.
Bitwise and Galaxy Digital expect ETH to set new records in 2026, driven by spot ETFs absorbing new supply, regulatory clarity from the CLARITY Act, and technological upgrades like the Glamsterdam upgrade (ePBS reducing MEV). On-chain metrics support a longer term bullish view, with about 29.57% of ETH staked (roughly 36 million ETH) and DeFi TVL at $66.5 billion. Developers are expected to rise to 31,869 by 2025, up 103%.
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