Ethereum to Soar After Major 'Pusaka' Upgrade? Signs of a Shanghai-Level 56% Rally

Source: DigitalToday Original Title: Ethereum, Soaring After Major ‘Fusaka’ Upgrade? Signs of a Pectra-Level 56% Rally Original Link: https://www.digitaltoday.co.kr/news/articleView.html?idxno=610600

Ethereum(ETH)has been showing exceptional strength after successfully activating its second major network upgrade, Fusaka(Fusaka), and there is growing interest in whether a rally similar to the previous Pectra(Pectra) upgrade could be repeated.

According to reports from blockchain media, the price of Ethereum has risen about 13% since December 1. This is due to a combination of market recovery and expectations that the Fusaka upgrade will improve the network’s transaction processing efficiency.

Although Ethereum dropped more than 17% over the past month, its recent rebound and several technical indicators suggest a trend similar to the period just before the Pectra upgrade in May 2025, according to market experts. At that time, Ethereum surged 56% within 7 days after the upgrade. The key question now is whether Fusaka can deliver the same effect.

During the Pectra period(May 6–13), Ethereum showed a typical bullish divergence and then jumped 56%. This pattern occurs when the price makes lower lows while the Relative Strength Index(RSI)makes higher lows, indicating weakening selling pressure. Between November 4 and December 1, Ethereum’s price showed a similar pattern, suggesting a reduction in selling pressure.

On-chain data also supports the bullish outlook. The number of Ethereum wallets holding over $1 million increased by about 4.68%, from 13,322 to 13,945, with at least $623 million in additional inflows. Historically, significant buyer inflows ahead of major technical upgrades are considered a constructive signal.

If Fusaka follows the same pattern as Pectra, there is a possibility Ethereum could rise 56% from the December low to reach $4,262.

However, a Pectra-level rally will require breaking through key resistance levels. According to Glassnode’s cost basis distribution, 2.76 million ETH is concentrated in the $3,154–$3,179 range, which closely matches the chart resistance at $3,166. A clear breakout above $3,166 could absorb selling pressure and allow a rise toward $3,653. Conversely, if the price falls, the first support is at $3,200, and if $2,996 is breached, the upward structure could weaken, risking a drop to $2,873 or even $2,618.