Ethereum recently surged above the psychologically significant $3,000 level for the first time since November 20. To recall, the smart contract platform is scheduled for a major upgrade on December 3.
What’s the Fusaka fuss about?
ETH reclaimed the important $3,000 price level ahead of the much-anticipated Fusaka upgrade, slated to go live on December 3. The cryptocurrency began showing bullish signs on November 25, when it ended its trend of three consecutive days of red candles.
On a weekly timeframe, it can be seen that Ethereum has been in a slump for the past four weeks. However, the week starting November 24 is currently in the green, and if similar price action holds until the end of the week, expect ETH to experience more gains next week as the Fusaka upgrade rolls out.
Notably, the Fusaka upgrade promises to bring a wide array of technical advancements to Ethereum, including faster transactions, enhanced node efficiency, and greater compatibility with electronic devices.
Crypto enthusiast Suhail Kakar highlighted the key changes expected in the Fusaka upgrade. According to an X post, the upgrade will pave Ethereum’s “actual path to mainstream adoption.”
Can ETH reach a new high?
Crypto market commentator Ted Pillows drew an analogy between ETH’s price action following the Pectra upgrade and its potential trajectory after the successful implementation of the Fusaka upgrade.
Ted noted that after Ethereum’s Pectra upgrade, which went live earlier this year in May 2025, the platform’s native coin experienced a sharp price jump as it went from around $1,800 to $2,800 within days.
A similar price action following the Fusaka upgrade can push ETH’s price to above $4,500, with a strong chance of entering new all-time high (ATH) territory if the momentum holds.
That said, institutional opinion on ETH appears to be split. While companies like Bitmain continue to accumulate the digital asset, other firms like FG Nexus are selling their ETH holdings to finish share buybacks.
