Ethereum (COIN: $ETH) trades at $3,000 after a sharp 22% drop over the last 30 days, but has rebounded 10% in the last 7 days. The network shows growing activity. The ecosystem lifted its block gas limit to 60 million, and developers now prepare for the Fusaka upgrade on December 3, 2025. The market watches these shifts closely as traders study fresh signals across on-chain data, institutional flows, and technical charts.
Ethereum developers and validators pushed the network forward this week. Validators raised the block gas limit from 45 million to 60 million after enough votes triggered an automated change. The increase creates more room for smart-contract activity inside each block. Developers expect smoother operations and stronger support for rollups once Fusaka goes live.
The network grows more active, and traders treat this upgrade cycle as a planned step rather than a reactive fix. On the sidenote, these factors renew excitement around Ethereum’s long-term roadmap.
Exchange Reserves Reach New Lows
Ethereum supply on centralized exchanges continues to fall, as reserves dropped from 20.9 million in July to 16.8 million a few days ago. Traders track this decline because lower reserves often signal reduced selling pressure. More holders now move ETH into personal wallets as they expect higher value in the future. The trend creates a supply squeeze that can influence price momentum when demand rises.
Institutional activity also shifts. Spot ETH ETFs in the United States recorded $1.7 billion in outflows over the past three weeks. The trend suddenly flipped this week as the same ETFs brought in $236 million in new inflows. The reversal signals stronger confidence and a potential return of institutional accumulation. Many traders call this one of the most important developments ahead of the Fusaka upgrade.
Daily ETF flow data strengthens the story. On November 26, ETH ETFs attracted $60.82 million in inflows. Bitcoin followed with $21.12 million, while XRP recorded $21.81 million. Solana showed mild outflows. Ethereum leads the rotation at a time when attention shifts toward its largest upgrade since The Merge.
A light narrative twist adds more interest. President Trump holds his entire crypto portfolio on Ethereum. The detail sparked wide discussion across the crypto community. Market watchers study the decision and debate its possible meaning, though his team has not offered an explanation.
Technical Analysis: ETH Tests the Channel Resistance
Ethereum trades inside a wide down-channel that formed through a series of lower highs. The chart shows clear reactions near the channel ceiling. Sellers step in quickly each time ETH approaches this level. Price now moves under a major trendline that guides the entire structure.
Ethereum trades close to the 3,140–3,180 resistance band. This zone limits upside movements and controls recent rallies. Traders watch this area because a strong move above it can shift market structure. The price holds near $3,000, and the market considers both breakout and rejection scenarios as the Fusaka upgrade approaches.
If Ethereum fails to break above the channel resistance, the chart points toward a drop near $2,850. The resistance band remains important because it shapes the near-term trend. A close above the channel top signals strength and can create the start of a new upward phase.
Is Now the Time to Buy?
Ethereum sits at a critical point. Its price moves near key resistance while network activity climbs. The gas-limit increase supports more processing room for contracts. Falling exchange reserves point to stronger long-term confidence. ETF inflows show renewed interest from institutions. The market enters the Fusaka upgrade window with rising speculation and larger discussions about Ethereum’s future path.
Traders now study two factors. The first is the price reaction near the 3,140–3,180 resistance zone. The second is the network performance after Fusaka activates on December 3. These signals will shape Ethereum’s direction as the market moves into the final month of 2025.
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