Ethereum Fusaka Upgrade Preview: Can ETH Use This Opportunity to Hit $7,000?

The highly anticipated Ethereum Fusaka upgrade will officially go live on December 3. The market is widely watching to see whether this upgrade can push ETH prices back to previous highs, or even challenge the $7,000 target.

The core of this upgrade is EIP-7594 (PeerDAS), which optimizes rollup data processing by allowing nodes to verify data samples instead of the full block, thereby reducing bandwidth requirements and freeing up more space for rollup activity. This means Ethereum can scale data block capacity without a full hard fork, improving network scalability and throughput while lowering transaction costs.

Despite the technical positives, market sentiment remains cautious. The May Pectra upgrade previously drove ETH up 58%, but after a roughly 43% pullback, the current price has only found short-term support around $3,000. Derivatives data shows open interest exceeding $17 billion, with funding rates slightly positive, suggesting traders expect a possible uptick, but neither the RSI nor the MACD have confirmed a strong reversal. As a result, the $7,000 year-end target has become significantly more challenging.

On the network side, the average daily throughput of Ethereum and its L2 caches has reached 33,000 TPS, with the gas limit increased from 45 million to 60 million, indicating continued improvements in scalability. The Fusaka upgrade is expected to further optimize transaction experience, reduce fees, and attract more users and rollup demand.

(Source: X)

Overall, while the Fusaka upgrade provides technical benefits, price action still needs to watch for a breakout of the $3,500–$3,800 resistance level. If network scaling and user growth accelerate significantly, ETH stands to benefit; however, if market reaction is muted, short-term prices may not see dramatic volatility. Market performance following the upgrade will be a key observation point.