Fusaka Pushes Ethereum Above $3,200: It Will Reach $4,262 If This Happens
Ethereum's Fusaka upgrade went live, pushing ETH past $3,200, with a potential rally to $4,262 if key resistance holds.Summary
Ethereum successfully activated the Fusaka upgrade on mainnet on December 3rd, introducing PeerDAS technology which unlocks 8x data throughput for rollups, increases the gas limit to 60 million, and adds R1 curve support. This upgrade is crucial for Layer 2 networks like Arbitrum and Optimism to maintain low fees amid growing demand.
Following the activation, ETH surged past the $3,200 resistance, trading at $3,231, marking a 7.38% gain in 24 hours. Technical indicators show a bullish divergence, and on-chain data reveals increased accumulation by large holders. Traders are comparing this move to the pre-Pectra phase rally of 56%.
The next key price target is $3,653, with a potential extension toward $4,262 if the current rally sustains. The $3,200 level now acts as crucial support; a break below $2,996 would invalidate the immediate bullish structure.
(Source：BeInCrypto)