Ethereum (ETHUSD) recorded a strong rebound over the past 24 hours, advancing by roughly 4% as renewed confidence surrounding the upcoming Fusaka network upgrade invigorated investor sentiment despite broad market weakness. The price bounce appears driven by a blend of upgrade-related optimism, technical market correction, and a resurgence of macro-linked inflows into digital assets.
Market analysts note that while Ethereum’s short-term outlook has turned positive, the cryptocurrency must maintain support above $2,800 and demonstrate steady progress on Fusaka implementation to keep its upward momentum intact.
The Fusaka upgrade is considered a critical milestone for Ethereum, setting the groundwork for major improvements in scalability, processing efficiency, and transaction affordability — particularly for Layer 2 ecosystems.
Fresh trading data shows Ethereum rising 3.80% to $2,809 as the second-largest digital asset attempts to recover from last week’s decline. ETH held firm at the $2,680 support level tested on Saturday, while the 14-day RSI touched 28.15 — its lowest reading since May 2025 — signaling the strongest oversold conditions in months. Ethereum’s 20-day exponential moving average, currently around $2,823, is now functioning as a key resistance zone.
The cryptocurrency’s market capitalization jumped by 3.8% within the day, with Sunday’s trading activity reaching $17.4 billion. Although daily trading volume fell by 50%, traders have begun re-entering long positions following the recent dip.
Much of the renewed interest is tied to market expectations for the Fusaka upgrade, scheduled for December 3. The update introduces PeerDAS technology, which is expected to expand Layer 2 data capacity by as much as tenfold.
Market watchers recall that Ethereum’s Pectra upgrade in May 2025 sparked a notable price rally, with ETH gaining nearly 50% during that period. This historical performance has fueled speculation of a similar post-upgrade surge, pushing investors to position themselves early.
Meanwhile, broader macro sentiment is also adding momentum. Anticipation of a U.S. Federal Reserve rate cut next month has boosted optimism across global markets. Softer U.S. employment figures increased the probability of a rate cut to 70%, up from 40% the previous week. Bitwise CIO Matt Hougan described this shift as an “underappreciated catalyst” that could support a broader market recovery.
Current industry reporting confirms December 3 as the expected launch date for Fusaka, often referred to in early-December upgrade schedules. The update merges improvements across Ethereum’s consensus and execution layers, aiming to elevate throughput and strengthen the economics of Layer 2 networks. Analysts say the main indicators to watch in the near future include finalized client releases and the early performance metrics following the fork.
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