Per the post, until Ethereum successfully reclaims this level, \u201cthe chances of a new low are high.\u201d On the contrary, if the cryptocurrency breaks above this zone with strong volume in the coming days, investors could \u201cexpect a rally towards the $3,400 level.\u201d<\/p>\n
The analyst also suggested<\/a> that the altcoin could see a remarkable recovery rally next week, driven by the upcoming Fusaka upgrade. As he explained, ETH soared around 50% after the network\u2019s Pectra upgrade in May.<\/p>\n As reported by NewsBTC, the upgrade introduced a series of improvements to increase transaction capacity, enhance efficiency, and reduce system stress. Following the implementation, the cryptocurrency rallied from the $1,800 level to the $2,700 area in a week, which was later followed by an 80% jump in Q3 to its latest all-time high (ATH) of $4,946.<\/p>\n Now, the Fusaka upgrade is the network’s biggest update since The Merge and is expected to come on December 3, \u201cto relieve one of the network\u2019s most pressing bottlenecks: data availability for\u00a0rollups,\u201d VanEck explained in October.<\/p>\n Based on this, Ted Pillows suggested that if ETH repeats its post-Pectra performance with the new upgrade, the altcoin\u2019s price could soar above the $4,000 resistance in the next few weeks.<\/p>\n Market watcher Merlijn The Trader also suggested<\/a> that Ethereum could see another leg up soon, as it is \u201crepeating a textbook wave structure\u201d it has printed multiple times since hitting the bear market bottom in mid-2022.<\/p>\n \u201cWave 1: Kicked off the cycle. Wave 2: Is shaking weak hands. wave 3: Where parabolas form,\u201d the trader explained on X, noting that ETH could be ending its corrective move and potentially see another rally in the coming weeks.<\/p>\n \u201cThis pattern printed 3 times before. Each time, ETH went vertical. Now it\u2019s flashing again,\u201d he stated. Similarly, Micha\u00ebl van de Poppe highlighted<\/a> Ethereum\u2019s trading pair against Bitcoin, affirming that investors should keep an eye on the chart.<\/p>\n Notably, ETH is retesting a multi-month downtrend line resistance against BTC, and could \u201csee a strong breakout upwards in the coming weeks.\u201d \u201cThis cycle is far from over,\u201d van de Poppe added.<\/p>\nEnd-Of-Year Rally Underway?<\/h2>\n
![\"etherem,](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/11\/ETHUSDT_2025-11-26_13-38-45.png?w=860&resize=860%2C506\")
<\/p>\n","protected":false},"excerpt":{"rendered":"