Ethereum (ETH) climbed 1.29% on Wednesday, November 12, supported primarily by favourable market conditions.
Most notably, the U.S. Senate Agriculture Committee released a new bill draft on November 10, classifying the altcoin as a digital commodity under the oversight of the Commodity Futures Trading Commission (CFTC).
The bipartisan framework is expected to bolster the cryptocurrency’s regulatory status, thus easing institutional adoption concerns down the line. Unsurprisingly, the renewed emphasis on market integrity and investor protection has led many to speculate about Ethereum’s price in the following weeks.
To assess the situation from another perspective, Finbold turned to its AI prediction agent regarding potential ETH price targets by the end of the month. According to the forecast, the asset is about to see some modest gains, with an average projected price of $3,617.2 on November 30 (a 1.21% upside).
The machine learning algorithm leveraged three large language models (LLMs), namely GPT-4o, Claude Sonnet 4, and Gemini 2.5 Flash, to come up with a more objective picture.
Interestingly, Claude Sonnet 4 was markedly bullish, projecting the price could surge 7.75% and hit $3,850. Gemini and ChatGPT, on the other hand, each suggested a roughly 2.05% downside, forecasting Ethereum’s price at $3,500.
Ethereum is managing to stay above $3,500 despite a bearish moving average convergence divergence (MACD) at -10.36 and a relative strength index (RSI) in the 38-41 range.
Key support levels at the 200-day exponential moving average (EMA) of $3,432 and the Fibonacci 38.2% retracement at $3,823 provide psychological anchors. At the same time, the Fear & Greed Index of 26 suggests cautious optimism.
However, capital continues to move away from altcoins. Namely, the CMC Altcoin Season Index has dropped to 30, close to the deep “Bitcoin (BTC) Season.”
All in all, any recovery will depend on the asset’s ability to reclaim the $3,600 level, which could potentially open the path toward the $3,900-$4,000 range.
