- The Ethereum price rebounds from the $2,700 support amid the formation of a double bottom reversal pattern.
- Fusuka’s PeerDAS is designed to boost Layer-2 data availability by allowing nodes to validate chunks more efficiently.
- The Relative Strength Index (RSI) rebounded to 46% indicating a slowdown in correction momentum.
Ethereum, the second-largest cryptocurrency by market capitalization, jumped over 7% on Tuesday and reclaimed $3,000. This uptick followed broader market recovery as Bitcoin surged 8% following the Federal Reserve decision to officially end Quantitative tightening. In addition, the crypto community is closely monitoring ETH amid the upcoming Fusaka network upgrade. Will the Ethereum price extend its recovery above the $3,000 mark?
ETH Futures Open Interest Rises as Fusaka Update Approaches
The Ethereum price correction has recently stabilized above the $2,700 mark, shifting to short-consolidation. Along with price support and broader market recovery, the ETH price gained traction amid the anticipated launch of the Fusaka update, scheduled for Wednesday.
Fusaka is the second major update for the Ethereum network in 2025, following the Dencun upgrade. The move centers around the Ethereum Improvement Proposal (EIP)‑7594, introducing PeerDAS that would dramatically improve data availability for Layer-2 rollups. This allows nodes to sample and validate data more efficiently, which has the potential to increase throughput of L2 to more than 100,000 TPS, while reducing transaction fees by up to 95% (such as from $0.20 to less than $0.01).
It also comprises EIP-7918 for blob fee adjustments, enforcing a dynamic “reserve fee” floor that is based on the cost of execution gas, which guarantees that we will have the same ETH burns even in low congestion periods and will accelerate the “ultrasound money” deflationary narrative in Ethereum. Successful testnets on Holesky, Sepolia, and Hoodi have given a confidence boost, and the developer and analyst are viewing it as a major step towards danksharding and mass adoption in DeFi, tokenized assets, and AI agents.
Amid the impending Fusaka upgrade, the open interest tied to the Ethereum futures contract shows an intraday uptick of 3.3% to reach $35.87 billion. This surge indicates that traders are positioning themselves before the upgrade in potential volatility.
Ethereum Price Sparks Fresh Rebound From $2,700 Support
In the last two weeks, the Ethereum price showed two notable rebounds from $2,722 support in the daily chart. A deeper analysis of the technical chart reveals this formation as the development of a key reversal pattern called a double bottom.
The chart setup is easily recognized as a W-shape, indicating renewed demand pressure from the bottom support. The momentum indicator RSI supports the bullish thesis with a fresh higher-low formation in its slope, currently residing at 45%.
With sustained buying, the coin price could surge another 6% and challenge the overhead resistance trendline at the $3,200 mark. The dynamic regression is part of another technical pattern called a falling wedge, which guides the current correction trend in the Ethereum price.
Therefore, a potential breakout from this barrier would accelerate the bullish momentum for further recovery.
On the contrary, if the Ethereum price failed to surpass the downsloping trendline, the current correction could be prolonged for the coming week and potentially retest the $2700 mark
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