Ethereum Price Prediction: Can ETH Get Back to $2,700 by the End of November?

The price of Ethereum (ETH) is currently around $2,340, which is 15.4% short of reaching the $2,700 mark by the end of November 2026. Despite a slight increase of 1.0% in the last 24 hours, the cryptocurrency has faced a challenging month, experiencing a decline of 12.9% since September 30. Notably, ETH peaked at $2,726 on October 4, but dropped to a low of $2,321 on October 26.

The $2,700 price point is crucial as ETH had been trading near it before the recent downturn. For instance, it closed at $2,685 on September 30 and reached a high of $2,775 on September 21. Presently, ETH is trading below its short-term moving averages, and there has been a consistent outflow from spot Ether exchange-traded funds (ETFs). Given these circumstances, the question arises whether ETH can reclaim $2,700 within the next five weeks.

With a market capitalization of approximately $286 billion, Ethereum remains the second-largest cryptocurrency. If it were to reach $2,700, its market cap would increase to about $330 billion. Historically, the $2,700 price point is modest for ETH, which hit an all-time high of $4,946 on August 24, 2025. The cryptocurrency was valued at $4,117 at one point but also saw a low of $1,566 on June 25. Since July 29, ETH has experienced a 22.6% increase, although it continues to track broader market trends.

In the past month, ETH has declined by 13.6%, while Bitcoin (BTC) saw a smaller drop of 5.1%. Year-to-date, ETH has fallen by 21.7%, compared to Bitcoin's decline of 8.4%. This indicates that sellers have been particularly aggressive toward Ethereum compared to other cryptocurrencies.

Currently, ETH is trading below its 20-day average of $2,435 and its 50-day average of $2,540, though it remains above its 200-day average of $2,158. This suggests a short-term downward trend, even as a potential long-term upward trend may be forming.

Regarding ETF outflows, which reflect institutional buying and selling activities, U.S. spot Ether ETFs reported an outflow of $88.6 million on October 26 following an inflow of $4.3 million on October 23. Overall, these funds experienced a total outflow of $220.6 million during the week of October 19. Fortunately, the daily outflows appear to be tapering off, declining from $201.9 million on October 6 to $129.5 million by October 14 and then to $88.6 million by October 26.

The cumulative net inflows for these funds dropped from $13.8 billion on October 1 to $12.6 billion by October 26, with total net assets falling to $14.1 billion. For ETH to make a move toward $2,700, a sustained influx of net investments into these ETFs would likely be necessary.

In a separate development, BitMine Immersion Technologies has been acquiring Ethereum. In the week leading up to October 26, the firm purchased 10,452 ETH worth around $24 million, bringing its total holdings to 6.05 million ETH valued at about $14.2 billion. However, this acquisition has not prevented ETH’s price from declining. From October 20 to October 27, the cryptocurrency fell by 4.4%, indicating that while BitMine's purchases may provide some support, significant price recovery will likely require renewed interest from ETF investors.

Additionally, the anticipated Glamsterdam upgrade, which aims to enhance Ethereum's scalability and transaction capacity, has been delayed indefinitely. The Ethereum Foundation postponed the launch of the Hoodi testnet, initially set for October 26, due to compatibility issues related to EIP-8037, which affects gas fee calculations for existing smart contracts. As of now, no new launch date has been established, and without an upgrade scheduled before the end of November, investor interest may wane.

In summary, while the prospect of ETH reaching $2,700 by the end of November exists, several challenges remain. The cryptocurrency must first maintain support levels around $2,290 and $2,276. It also needs to recover its 20-day average of $2,435 and achieve a week of positive net inflows into spot Ether ETFs. A key milestone would be closing above the 50-day average of $2,540 before mid-November. If these conditions are not met, the likelihood of ETH reaching $2,700 by the end of the month appears slim. Continued outflows could push ETH below $2,276, with concerns that sellers may then target the 200-day average of $2,158.

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