Ether price tests $3K support ahead of Dec. 3 Fusaka upgrade

Ether hovered at the $3,000 support level over the weekend as its daily chart traced a falling wedge pattern. The next network upgrade, called Fusaka, is scheduled for Dec. 3.

The token is down nearly 40% from its 2024 high after a broad crypto selloff and a sharp liquidation episode that wiped out billions of dollars in leveraged positions. Price action has tightened in recent weeks as daily highs and lows narrowed into the wedge.

Fusaka will include peer data availability sampling, allowing validators to check whether rollup blob data is available without downloading the full dataset. The design aims to cut bandwidth and storage needs for participants and support higher throughput across rollups. The release also introduces verkle trees to shrink proof sizes, a mechanism that makes blob fees more predictable, and adjusts how historical data is stored and pruned.

Developers describe the changes as infrastructure-focused work to advance Ethereum’s rollup-centric scaling plan. The upgrade runs behind the scenes and should not alter application interfaces at launch.

On charts, ether remains below its 50-day and 100-day moving averages after the recent drawdown, and the Supertrend gauge still points lower on the daily timeframe. Momentum has steadied: the MACD lines have crossed higher, and the Relative Strength Index has moved toward the neutral 50 level. Near-term resistance sits around $3,500, while $2,635 is a downside level traders are tracking.

Sunday’s test of $3,000 keeps attention on whether the wedge resolves as the upgrade window opens. Market participants are watching how the Dec. 3 rollout and positioning interact with a chart that has compressed after two months of declines.

As we covered previously, large Ethereum wallets have been accumulating ETH since April while smaller wallets reduced balances by 16%, with spot volumes rising after the early-November pullback. Analysts noted the ETH/BTC ratio near multi-month lows, daily transactions up about 25% from September, and the staked-ETH discount normalizing since October’s market stress. Core developers have scheduled the Fusaka mainnet upgrade for Dec. 3 after completing a third and final testnet, activating PeerDAS (EIP-7594) and scaling blob capacity (BPO). They added dedicated blob lanes for rollups earlier in Dencun (EIP-4844). Traders are watching the $3,000–$3,400 zone as support.