Ethereum’s price has seen a notable surge, exceeding $3,000, driven by strong buying activity and renewed interest from institutional investors. This comes on the heels of the Fusaka upgrade that enhances the network’s scalability and cost-efficiency. Traders are witnessing a shift in market sentiment as buyers emerge, signaling an upward trend. The daily chart reflects a modest recovery with clearer signs of selling exhaustion easing. Key factors driving this momentum include:
* **Intense Trading Momentum:** Taker buy volume has surged to its highest point since earlier in November on various exchanges, suggesting active participation from buyers.
* **BlackRock’s Institutional Investment:** Blackrock added over 44,000 ETH worth approximately $134 million into Coinbase. This marks a significant return of institutional activity to the Ethereum spot market, signaling strategic accumulation rather than short-term speculation.
* **Fusaka Upgrade Benefits:** The network upgrade significantly boosts Ethereum’s scalability and reduces transaction fees for applications such as DeFi and on-chain games. 2025 has already seen two major hard forks—Pectra in May and Fusaka on December 3rd.
Technical indicators further support this shift, with the RSI rebounding from oversold territory, while the MACD histogram begins to flatten after a prolonged decline. This marks the first signs of stabilization for short-term price structure after weeks of weakness.
**Looking Ahead**: The combination of institutional inflows, network upgrades, and increased trading activity suggests that Ethereum could continue its upward trend and challenge resistance levels in the coming days. While it remains below its 30-day moving average, the recent momentum indicates a potential shift towards a more bullish outlook.