Summary
- Ethereum (ETH) is said to be about to implement the major technical upgrade Fusaka.
- The market stated that ETH must recover $3,170 in the short term to be recognized as a full bullish reversal signal.
- It reported that network performance improvements, easing selling pressure, and the presence or absence of concrete capital inflows will determine whether further price increases occur.
Ethereum (ETH) is about to undergo the major technical upgrade 'Fusaka'. The market expects that ETH must recover the $3,170 level in the short term for a full bullish reversal signal to be confirmed.
On the 25th (local time), crypto asset (cryptocurrency) media The Coin Republic reported, "Fusaka, Ethereum's technical upgrade, is expected to be applied within days, and is anticipated to improve network performance such as fee reductions and shorter confirmation times."
On-chain indicators show profit-and-loss metrics such as NUPL rebounding from low levels, suggesting selling pressure is easing. However, inflows into the network are not yet clear, so the prevailing view is that a trend reversal can only be confirmed if the price clearly breaks above $3,170.
Market analysis also suggests that if the $3,170 resistance is broken, price ranges up to $3,240 and $3,630 could open.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
