Ethereum Price Rallies Above $3,000 Ahead of Fusaka Upgrade: What to Expect?

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Ethereum Price Rallies Above $3,000 Ahead of Fusaka Upgrade: What to Expect?

Highlights

  • Ethereum price strengthens as Fusaka upgrade promises major scalability and cost improvements.
  • Bullish momentum is increased by inflows in ETFs and a positive overall crypto recovery.
  • Any break above $3,200 may lead to an increased rally to $3,500 as indicators improve.

Ethereum (ETH) price has rallied past the $3,000 mark, gaining momentum ahead of the much-anticipated Fusaka Upgrade. Over the past 24 hours, the ETH Price recorded a 3% increase, supported by a broader crypto market recovery. 

The crypto market soared by 3.45% in the past 24 hours. As a result of a sharp recovery, the price of Bitcoin surged above $90,000 following the week of lows. There were similar recoveries in Altcoins like Solana, Ripple, Dogecoin, and Cardano, which supported the overall bullish sentiment.

Fusaka Upgrade Poised to Boost Ethereum Scalability

The upcoming Fusaka upgrade on December 3 is set to deliver notable performance gains across Ethereum’s execution and consensus layers.  One of them is PeerDAS, which allocates data-availability responsibilities to randomized groups of nodes.

The proposed system will increase data capacity by almost eight times and reduce rollup posting cost. The developers believe that such enhancements will facilitate lower L2 transactions and increase the use of Ethereum in DeFi, games, and RWA.

Major network upgrades, however, should be seen to have a very early market response, but recent price weakness reflects persistent precaution. The traders appear to be awaiting a superior technical affirmation prior to moving towards a more optimistic ETH perspective.

Ethereum Spot ETFs See Strong Inflows

Ethereum spot ETFs had an inflow of 60.82 million with a net acquisition of 60.82 million on November 26, continuing a four-day winning streak. Bitcoin spot ETFs invested $21.12 million, but Fidelity FBTC investment saw an outflow.

The inflows were at 21.81 million in XRP spot ETFs, indicating the sustained demand. Solana spot ETFs were down and registered a negative net outflow of $8.1 million. The data also shows that the sentiment of the investor is changing across key crypto ETF products.

Will Ethereum Price Rally to $3,500 Next?

As of the reporting, the ETH price climbed steadily after a strong surge in the past 24 hours. Ethereum price held near the $3,030 zone, showing renewed strength following several days of sideways consolidation.

If Ethereum price breaks above $3,200, analysts expect a push toward $3,300. A stronger breakout could open room for $3,400. 

A successful climb toward $3,500 would confirm a broader recovery.  These zones now serve as the next major objectives for traders watching the Long-term Ethereum forecast. Failure to hold above $3,000 may trigger a retest of $2,900 or $2,700.

Ethereum Price Rallies Above $3,000 Ahead of Fusaka Upgrade: What to Expect?
Source: ETH/USD 4-hour chart: Tradingview

The MACD resumed its positive crossover, and this indicated increasing bullishness. The RSI was found to be close to 64, and this implies that there was strong performance without approaching highs.

In conclusion, Ethereum is experiencing a new momentum because of increased confidence before the Fusaka upgrade, and ETH is ready to continue its rise as the technical processes and emotions gain strength.

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Frequently Asked Questions (FAQs)

1. . What caused Ethereum’s price to rally above $3,000?

Ethereum surged due to renewed market confidence, broader crypto recovery, and anticipation of the upcoming Fusaka upgrade.

2. What is the Fusaka upgrade?

The Fusaka upgrade is an Ethereum network enhancement aimed at improving scalability, lowering costs, and boosting data capacity.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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Market Cap

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About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.