ETH Eyes 300% Breakout as December 3 Fusaka Upgrade Nears

• Ethereum is catching traders’ attention as the network gears up for its Fusaka Upgrade on December 3. The upgrade is seen as a positive catalyst for the ecosystem, and market participants are watching price action closely for breakout signals. ETH is currently trading around $2,995, with recent consolidation forming a pattern strikingly similar to what played out before the earlier Pectra Upgrade.

• The Pectra Upgrade earlier this year kicked off a massive rally in ETH’s price, with the asset surging nearly 300% in subsequent months. Charts show that sharp climb starting shortly after Pectra went live. Right now, ETH has pulled back and leveled off again ahead of the next scheduled upgrade. The momentum indicator shows a trough comparable to the one that formed before the previous rally, adding weight to the idea that price behavior heading into Fusaka is following the same playbook.

The timing of the Fusaka Upgrade aligns with other bullish signals emerging across the market.

• The timing of Fusaka lines up with other bullish signals appearing across digital assets. While there’s always more nuance to any breakout than just one event, the combination of historical patterns, structural similarities, and a major network upgrade is drawing serious interest. Traders are focused on whether ETH can hold above recent support and start building momentum from here.

• This upgrade comes as broader crypto markets try to find direction heading into year-end. If Ethereum stays above key support levels and sentiment around Fusaka strengthens, the setup could shape expectations for how the market moves through December. With multiple assets showing improving signals and ETH positioned ahead of a key protocol enhancement, the next few weeks may prove crucial for confidence across the sector.

My Take: The pattern repetition is compelling, but remember that past performance doesn’t guarantee future results. The 300% rally post-Pectra sets high expectations, but market conditions evolve. Watch how ETH handles the $3,000 level in the coming days.

Source: Sykodelic