Whale Purchases and Fusaka Upgrade Propel Ethereum Price Surge
A prominent Ethereum whale has made a significant purchase, acquiring 21,537 ETH valued at approximately 59.17 million dollars. The transaction, revealed by analyst Alek Carter, indicates a substantial amount of ETH being transferred to a wallet associated with the firm. This substantial acquisition has captured the attention of the market, coinciding with a period of increased institutional interest in Ethereum.
Strategist Tom Lee continues to expand his holdings in Ethereum, demonstrating confidence in the cryptocurrency’s potential amidst rising institutional inflows. The recent surge in institutional-style investments in Ether has contributed to a positive sentiment surrounding the cryptocurrency.
As Ethereum gears up for its upcoming Fusaka upgrade scheduled for mainnet activation on December 3, 2025, analysts like Pepe Onlyfrens are predicting a bullish trajectory post-upgrade. Historical data suggests that major Ethereum upgrades have historically resulted in price gains ranging from 10 to 50 percent over the subsequent one to six months. Onlyfrens’ analysis points to the formation of an inverse head-and-shoulders pattern, indicating a potential fifth wave advance following the upgrade. With key support levels identified around $2,642 and $2,268, the projection outlines a gradual climb towards a target range of $9,600 to $13,500 post-Fusaka.
Ethereum’s recent price action has seen it maintaining a crucial daily support level of around $2,800, with multiple bounces off this zone throughout the year. Despite a broader downtrend observed since the September peak, buyers have consistently defended this support area, signaling a strong buying interest at these levels. The rebound from the support band has instilled confidence in potential recovery scenarios, with a projected move towards the $3,000 to $3,200 range as a crucial resistance area to monitor in the near term.
In conclusion, Ethereum’s recent developments, including the significant ETH purchase by a whale, the anticipation surrounding the Fusaka upgrade, and the resilient support levels, are pointing towards a pivotal moment for the cryptocurrency. Institutional interest, strategic acquisitions, and technical chart patterns all indicate a positive outlook for Ethereum’s future price action. As the market prepares for the next phase of Ethereum’s journey, investors are closely monitoring these key developments in anticipation of potential upside in the post-upgrade period.
