ETH News: Ethereum Rallies Strongly Past $3,000 Before the Upcoming Fusaka Upgrade

Ethereum rallies past $3,000 ahead of Fusaka upgrade; ETF inflows hit $60.82M as traders eye breakout above $3,200.

Ethereum (ETH) has moved past the $3,000 level as investor attention grows ahead of the Fusaka upgrade scheduled for December 3. The price gained more than 3% in the last 24 hours, following an overall rise in the crypto market.

Strong inflows in Ethereum ETFs and growing confidence in network upgrades have supported this recent move. Traders are now watching the $3,200 mark closely as a key short-term level.

Fusaka Upgrade to Enhance Ethereum Network Efficiency

The Fusaka upgrade is expected to improve Ethereum’s performance by introducing better scalability features and lowering data-related costs. A core feature of this upgrade is PeerDAS, a system that uses random groups of nodes to manage data availability more efficiently.

Developers say this system can raise data capacity by nearly eight times.

The upgrade aims to make Layer 2 transactions cheaper and faster. This may encourage more use of Ethereum in areas like DeFi, games, and real-world asset platforms. Developers see these changes as key to increasing Ethereum’s daily usage and adoption across sectors.

Despite this, traders have shown caution in recent weeks. The price had been moving sideways before the recent push past $3,000. Many market participants are waiting for stronger technical confirmation before expecting further upside movement.

ETF Inflows Show Strong Demand for Ethereum

Ethereum spot ETFs have seen consistent buying over the past four days. On November 26, ETH ETFs recorded an inflow of $60.82 million, which was one of the highest during the week. This shows rising demand from institutional and retail investors who view Ethereum as a strong asset in the short term.

Meanwhile, Bitcoin spot ETFs also recorded inflows, though at a smaller level of $21.12 million. XRP ETFs had a net inflow of $21.81 million, while Solana ETFs posted an outflow of $8.1 million.

This suggests that market interest is shifting between major tokens depending on upcoming developments.

The consistent ETF inflows for Ethereum have helped support its rally. Analysts believe this buying interest could continue if the price holds above $3,000, especially with the upgrade approaching.

Related Reading: Ethereum Fusaka Upgrade Scheduled for December 3 as Blob Capacity Expands

Ethereum Price Outlook Ahead of $3,200 Resistance

Ethereum’s price is holding close to $3,030 after gaining strength over the past day. Technical indicators are also showing support for a continued upward move. The MACD has turned positive, while the RSI is near 64, which shows strength but not overbought conditions.

Traders are now focused on the $3,200 level. A clean break above this may lead to further gains toward $3,300 and possibly $3,500. However, if the price fails to stay above $3,000, there could be a correction toward $2,900 or $2,700 in the short term.

As of now, Ethereum is showing stronger momentum supported by network upgrades, ETF inflows, and overall crypto market recovery. The next few days will be crucial as traders await further direction before and after the Fusaka upgrade.