𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 𝗗𝗼𝗺𝗶𝗻𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 $𝗕𝗧𝗖 𝗣𝗮𝗶𝗿 𝗦𝗶𝗴𝗻𝗮𝗹 𝗣𝗼𝘀𝘀𝗶𝗯𝗹𝗲 𝗕𝗿𝗲𝗮𝗸𝗼𝘂𝘁 𝗔𝗵𝗲𝗮𝗱 𝗼𝗳 𝗙𝘂𝘀𝗮𝗸𝗮 🚀
Ethereum ($ETH ETH) is currently retesting a key resistance level following a recent price correction. Market analysts are closely watching the December 3 Fusaka upgrade—a major event for the network—as a potential catalyst that could spark a rally and drive $ETH's market dominance higher.
Key Points Summarized:
• Resistance Struggle: This week, Ethereum ($ETH) was unable to definitively reclaim a major resistance zone. This failure suggests the risk of a new price low remains a concern, even with the recent, albeit short-term, price bounce.
• Fusaka Upgrade Catalyst: Analysts believe the upcoming Fusaka upgrade on December 3rd—the most significant update since The Merge—could potentially trigger a rally similar to the one seen post-Pectra. This is largely contingent on the upgrade successfully boosting data availability for rollups (Layer 2 solutions).
• Bullish Signals: Despite the recent struggle, market observers are pointing to several positive technical indicators for an upcoming upside move:
• Repeated wave patterns in the price action.
• A potential breakout in the $ETH/$BTC trading pair.
• Consolidating market dominance for $ETH.
