Ethereum news: Climbs above $3,050 with aggressive buying pressure despite mixed momentum signals

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Ethereum surges 9.10% to $3,058.44 today

Highlights

Ethereum will implement the Fusaka network upgrade on December 3, featuring Peer Data Availability Sampling to enhance scalability for applications and Layer-2 rollups.
The update targets a 40–60% reduction in Layer-2 transaction costs and boosts network capacity by raising the gas limit.
Recent institutional accumulation includes BitMine acquiring 96,798 ETH and BlackRock purchasing $26.7 million in ETH, despite $79 million outflows from US spot Ethereum ETFs.

Institutional accumulation and network upgrade drive optimism

Ethereum will activate the Fusaka network upgrade on December 3, introducing Peer Data Availability Sampling to improve scalability for applications and Layer-2 rollups. The update is set to reduce Layer-2 transaction costs by up to 40–60% and will increase network capacity by raising the gas limit. Recent developments also include notable institutional accumulation, with BitMine acquiring 96,798 ETH and BlackRock purchasing $26.7 million worth of ETH, alongside $79 million in outflows from US spot Ethereum ETFs.

Overbought oscillators clash with persistent bearish trend signals

Momentum indicators for ETH present a mixed view: the daily MACD signals strong bearishness, supported by the ADX showing persistent downward trend strength. Yet, overbought signals from the Stochastic RSI and Bull/Bear Power reflect aggressive buying pressure, while the regular RSI and CCI are neutral to slightly bearish. The intraday session saw ETH jump from $2,803.21 at the prior close to $2,994.71 at the open, with no gap, and price now sits near today’s high in a wide trading range — indicating high volatility and intraday strength. This combination of overbought oscillator signals and prevailing bearish momentum creates a conflicting short-term technical backdrop.

Upside capped by volatility as sell signals dominate weekly outlook

Over the next five trading days, the expected volatility band for ETH is set at $2,750–$3,250. Weekly momentum indicators are firmly in 'Sell' territory, suggesting less than a 20% chance of a near-term upside move, and the baseline scenario is for continued sideways action between established support and resistance levels. A decisive break above $3,150 could open the way for a rally toward $3,250, while sustained weakness below $2,900 would increase the probability of a deeper pullback toward $2,750.

Viktoras Karapetjanc, analyst at Traders Union, sees recent fundamental upgrades and strong institutional buying as supportive forces for Ethereum. He believes the network’s Fusaka upgrade and visible interest from major players improve sentiment, despite mixed technicals and ongoing medium-term weakness. Short-term price action remains volatile, but resilience above $2,900 suggests constructive accumulation. The analyst expects a steady range with bias to the upside if $3,150 breaks. "With innovation and institutional flows aligning, I see Ethereum as well-positioned for a new bullish phase if key resistance gives way."

Previously it was reported that Ethereum remained under persistent selling pressure, trading below major moving averages with resistance at the Kijun line and immediate support near $3,000. Despite surging validator efficiency and rising long-term holding behavior, the network faces ongoing congestion challenges and a broadly bearish technical context.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.