Ethereum (ETH) Price Under Pressure From Macro Headwinds Despite ‘Fuska’ Upgrade News

Ethereum (ETH) faced downward pressure due to macroeconomic concerns despite the upcoming ‘Fuska’ upgrade set for December 3. The price of Ether dropped from approximately $3,921 to a low of $3,731 before a late rebound, indicating increased trading activity. The recent bearish trend coincided with negative institutional flows as macroeconomic indicators remained shaky. The S&P 500 and Nasdaq saw declines, further impacting market sentiment. Key resistance points for Ether are set between $3,840 and $3,880, with critical support at $3,731. The overall trading volume was significantly above average, suggesting heightened market participation. Analysts noted that while sellers were initially active, a reclaim of the $3,760 level could signal a shift toward buying pressure. The near-term outlook for Ethereum remains range-bound within the levels of $3,730 and $3,880, as participants await a decisive breakout or consolidation before taking significant positions.

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