$ETH 📈 Ethereum (ETH) — Recent Snapshot & Analysis

🔎 What’s happening now

ETH recently broke below the key $3,590 support — dropping from around $3,629 down to roughly $3,576, as selling volume surged over 138%. That move established a new, lower trading range near $3,565–$3,589.

On the flip side, with upcoming network upgrades and renewed institutional interest, there’s growing optimism: short-term forecasts see ETH potentially bouncing to ~$3,400 in the next week or two.

🛠️ What’s underpinning sentiment — positives & risks

What could support ETH’s rebound:

Coming upgrade Fusaka (slated for early December 2025) aims to dramatically improve scalability — increasing data-availability and throughput for Layer-2 rollups, which could reduce costs and boost network usage.

Technical indicators (like bullish MACD) and analyst forecasts suggest a medium-term target range near $3,200–$3,500 if ETH holds key support zones.

What traders should watch out for:

Breaking below $3,590 has flipped that support into resistance — meaning ETH now needs to regain upward momentum before bulls can reclaim control.

There’s risk of further downside toward major support around ~$2,623 if overall market sentiment deteriorates and upgrade optimism fades.

📌 What could come next (near term)

If ETH manages to stay above ~$3,000 and builds momentum, a rebound toward ~$3,400 — or higher — is plausible, especially if the Fusaka upgrade is successful and macro conditions remain supportive.

If resistance near $3,590–$3,600 continues to hold and market sentiment weakens, we might see a retest of lower support around ~$2,600–$2,800.

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If you like — I can build a 3-month forecast for Ethereum (with bullish / bearish / base scenarios) to give you a clearer view of possible paths.

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