Ethereum price rises 2% as Buterin pushes for decentralization

Ethereum price jumped 2% over the past 24 hours to trade at $3,543 as of 4 a.m. EST, with daily trading volume up 18.93% to $39.53 billion.

Ethereum took center stage in crypto news after its co-founder, Vitalik Buterin, along with other Ethereum executives, released a “Trustless Manifesto” earlier today. The open letter urges developers and builders to prioritize decentralization as the project grows.

1/ Today, the Account Abstraction & @VitalikButerin let’s publish something we’ve been talking about for years but never written clearly enough:

The No-Trust Manifesto.

And we put it where it belongs: onchain.

trustlessmanifesto.eth →

– Ethereum Foundation (@ethereumfndn) November 13, 2025

Buterin’s statement comes at a crucial time, as technical advancements and institutional adoption of the Ethereum blockchain increase. In the manifesto, Buterin said that lack of trust is not just a characteristic, but the very essence of Ethereum. The message is clear: projects and protocols built on Ethereum should not sacrifice these core values ​​simply to attract more users or simplify operations.

The letter was also signed by researchers from the Ethereum Foundation and other key contributors. The ETH community took this call seriously, especially after a recent cloud outage showed the pitfalls of centralized operations.

AWS has fallen 3-4 times in the last month.

Every time, the same thing happens: hundreds of apps, games, exchanges, dashboards and even internal tools… all shut down together.

This is not a bug, this is how centralized cloud works.

One platform. Shared control plane.

Some kernels…

-Gaurav_IO (@Gaurav_ionet) November 8, 2025

When an Amazon Web Services (AWS) incident caused parts of the network to go down, some Layer 2 chains suffered, revealing how convenience can become a weakness. Buterin’s manifesto highlights that every shortcut or central point could eventually turn into a choke point, threatening the permissionless nature of Ethereum.​

On-Chain Signals Supporting ETH Price

On-chain activity for Ethereum is currently at its peak.

According to industry trackers, November 2025 saw record highs in key network metrics. Daily transactions, active wallets, and smart contract calls are all reaching all-time highs, driven by strong growth in decentralized finance (DeFi), NFTs, and Layer 2 adoption.

Number of active ETH wallet addresses Source: Glassnode

The number of wallets withdrawing ETH from exchanges has also increased. This demonstrates strong holding activity and growing confidence in the future of ETH.​

Large holders are also not selling, suggesting accumulation continues. Each drop in the price of ETH has been offset by an increase in on-chain transfers to private wallets and staking contracts, which removes supply from the market and helps stabilize the price.​

Ethereum developers also remain active. Updates on improved scaling and privacy have kept community sentiment strong, even as large investors eye short-term profits. The chain’s overall story supports a bullish outlook, especially if bullish metrics continue through the end of the year.​

Technical analysis of ETH price

Looking at the ETH/USD daily chart, the price is showing signs of stability and recovery.

ETH is trading at $3,529, well above the important 200-day simple moving average (SMA) at $3,449. This long-term trendline acts as a key support level, protecting against deeper declines.

Meanwhile, the 50-day SMA sits at $3,950, now acting as a resistance level that ETH must overcome to signal further upside.

ETHUSD analysis source: Tradingview

Recently, ETH rebounded from the $3,450 area, marking the 200-day SMA as a support floor. Price is also within a broader ascending channel, with buyers repeatedly stepping in when ETH falls near the channel’s lower boundary, as seen in the chart.​

Technical indicators offer a mixed but improving picture: the relative strength index (RSI) is currently at 43.79, meaning ETH is neither overbought nor oversold. It is possible to go higher if new buyers intervene.​

The MACD (Moving Average Convergence Divergence) is trying to become positive, currently at 2.74. This suggests that bullish momentum is building, but not yet as strong.​

Ethereum price eyes a breakout above $3,950

Meanwhile, Chaikin Money Flow (CMF) is slightly negative at -0.11, indicating neutral pressure from large buyers and sellers.​

If ETH can move above the 50-day SMA ($3,950), the next resistance lies between $4,100 and $4,240. A daily close above this band could trigger a move towards previous highs at $4,950.

However, if ETH fails to break above $3,950 soon, it could fall back to test support at the 200-day SMA ($3,450) or even the $3,165 level marked by the Fibonacci retracement.

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