Is Ethereum finally lining up for a sustained recovery, or is this another rally that fades at the first big hurdle?
Buyers have been stacking higher lows for months, and the moving averages are starting to line up behind them.
That combination is why the Ethereum price prediction 2029 debate is getting louder, with the biggest question being whether ETH can push back toward the $15k area.
Ethereum Price Today: Market Cap, Supply and Valuation
Ethereum price today is near $2,717, up 0.57% over 24 hours, according to Coinglass. Market cap is about $331.8 billion with 122.10 million ETH in circulation, equal to total supply.
Etherscan shows a market cap of $331.91 billion and a price of 0.031596 BTC, while DefiLlama puts the fully diluted valuation level with a market cap at $332.081 billion, so no hidden dilution sits behind the number.
Ethereum Network Activity: Cheap Blockspace, Recovering TVL
Etherscan shows 3.77 billion lifetime transactions at about 20.2 TPS, with daily transaction counts easing from near 2 million to around 1.5 million over the past 14 days. 
Ethereum gas fees are tiny at a median of 0.182 Gwei, roughly $0.01.
That helps users, though chain fees of $394,849 in 24 hours on DefiLlama show how little revenue that activity is generating right now.
Ethereum DeFi TVL
is 30 billion zones earlier this year but remains well below the roughly $97 billion peak of mid-2025. 
Stablecoins on the chain total $146.311 billion, DEX volume is $631.71 million, perp volume is $440.87 million, and 24-hour inflows are $38.17 million across 386,651 active addresses.
Capital is returning, though not yet at full strength.
ETH Open Interest: Is Leverage Driving the Move?
Open interest is $34.09 billion per Coinglass, roughly 10.3% of market cap. Futures volume of $27.96 billion is about 16 times the $1.72 billion on the spot.
With a tenth of market value tied up in open positions, leverage is a real part of price action, so breakouts can run quickly but pullbacks can be abrupt.
Without a positioning tilt, the read stays mixed.
ETH Liquidity Depth: What CoinGecko Is Flagging
A CoinGecko post on X says Ether's liquidity is now less than half of Bitcoin's, compared with at least 60% in 2025. 
Median depth sits at $13 million to $14 million at the 0.15% level, and seven of eight exchanges still hold over $1 million per side.
ETH liquidity depth is thinner than before, which can amplify a breakout and an equally sharp rejection, yet the asset remains easy to trade.
ETH Weekly Chart Analysis: Golden Cross and Higher Lows
On the TradingView weekly chart, the price slid from the 2025 peak near 4,873.7, built a base around 1,857, and has since printed higher lows along an Ethereum ascending trendline. 
The 50 and 200 EMA pair has tightened to 2,426.8 and 2,471.9, both below price, and the chart flags an ETH golden cross, a signal trend followers watch closely.
RSI at 64.03 shows firm momentum with room before overbought.
For the Ethereum price prediction 2029 picture, 2792.3 is the first gate, only about 2.7% above spot.
A weekly close above it opens 3266, then 4116.3, and the 2025 peak area at 4873.7.
On the downside, 2389.7 is the first strong support, sitting just under the moving averages, followed by 2120.
A break there exposes 1857.2 and finally 1561.2 as major support. These ETH support and resistance levels frame the setup, and a break of the trendline would be the earliest warning.
What Needs to Change for ETH to Reach $15k?
$15k is about 84% above spot and would value Ethereum near $610 billion on 122.10 million coins.
It sits just above 4873.7, the last mapped level, so ETH must clear 2792.3, 3266, and 4116.3 first.
Supporting conditions include TVL climbing back toward its 2025 peak, inflows staying positive, DEX and perps activity growing, and spot volume closing the gap with futures.
Liquidity depth recovering against Bitcoin would also help. $10,000, by contrast, would need nearly 3.7 times today's price and a market cap above $1.2 trillion, well outside the mapped structure.
ETH Price Outlook 2029: Scenarios and Key Levels
These are scenario zones drawn from chart structure across the 2029 horizon, not dated forecasts.
In the Ethereum price prediction 2029 base case, ETH grinds above 2792.3 and pauses near 3266 before a larger test at 4116.3. While higher lows hold, the bias remains constructive.
Key Risks for Ethereum
The 2792.3 level has not been cleared, and a rejection could pull the price back toward the moving averages near 2,400.
Derivatives volume runs about 16 times the spot, so leverage-led reversals are possible.
Chain revenue is thin, TVL is still far from its 2025 peak, and liquidity is weaker relative to Bitcoin than a year ago.
A golden cross is also a lagging signal, so it can fail in choppy conditions.
Expert Opinion on Ethereum's 2029 Outlook
As per the analyst desk, the weekly picture has turned clearly better, with higher lows, a rising trendline, and the moving averages lining up below price.
The desk wants a weekly close above 2792.3 that holds on a retest before calling the recovery confirmed and sees 4116.3 as the real checkpoint for a larger run.
$15k is a stretch case that needs TVL and inflows to improve alongside price.
Conclusion
The Ethereum price prediction 2029 outlook hinges on 2792.3. A confirmed weekly close above it opens 3266 and 4116.3, while a slip under 2389.7 would put the recovery structure at risk.
Reaching $15k would take roughly an 84% rise, so it is best viewed as a stretch scenario that depends on every earlier level holding.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment or trading advice. Cryptocurrency prices are volatile and scenarios discussed here are not guarantees. Please do your own assessment before making any decision.
