Ethereum’s most recent upgrade, Fusaka, was successfully activated on December 3. The upgrade includes several significant changes designed to improve scalability, developer usability, and transaction responsiveness. Now, one week later, markets and technical indicators offer a chance to assess Ethereum’s current position.
After the Pectra upgrade, Ethereum saw a sharp rally in the days that followed. So far, the reaction to Fusaka has been more measured. Ethereum is currently trading near $3,200, showing a slight recovery over the past week (+2.2%), though still down over the last month (-7.6%) and quarter (-30.9%).
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Momentum Indicators
RSI: Neutral
The Relative Strength Index (RSI), which measures overbought or oversold conditions, shows neutral readings. The RSI(14) is currently 52, compared to 58 yesterday and 50 one week ago. Short-term RSI(7) has dropped from 71 yesterday to 56 today, reflecting recent cooling in momentum.
MFI: Neutral
The Money Flow Index (MFI), which includes volume in its calculation, also shows a slight decrease in pressure. The current MFI(14) is 60, down from 66 yesterday and 64 a week ago.
Fear & Greed Index: Fear
Sentiment across the crypto market remains cautious. The Fear & Greed Index is at 29, up slightly from 26 yesterday, but still in the “Fear” zone. It has ranged between 20 and 29 for the past week, and has been in “Fear” and “Extreme Fear” territory for the entire month.
Moving Averages
SMA & EMA: Bullish
The current price is slightly above short-term moving averages, suggesting a short-term bullish structure.
Bollinger Bands: Increased Volatility
Bollinger Bands show that Ethereum is trading in the middle of its current range. This positioning leaves space for either a breakout or a retest of lower support levels, depending on sentiment shifts.
Trend & Volatility Indicators
ATR: Low Volatility
The Average True Range (ATR) remains flat at 190, consistent with last week. This suggests relatively low price volatility in recent sessions.
AO: Bullish
The Awesome Oscillator (AO) has moved from -183 last week to 88 today, indicating a shift toward bullish momentum.
VWAP: Bearish
The Volume-Weighted Average Price (VWAP) is currently 3717, well above the spot price. This reflects ongoing downward pressure in volume-adjusted terms.
Summary
Ethereum’s Fusaka upgrade was implemented successfully, with no technical disruptions reported. The update brings key scalability and efficiency improvements, especially for rollups and transaction processing. However, market response has remained subdued so far compared to the reaction following earlier upgrades like Pectra.
From a technical perspective, most indicators remain neutral or only slightly positive. Momentum has slowed since early December, and trading volume has declined. Some short-term signals suggest stabilization may be underway, but broader sentiment remains cautious, and volatility is low.
Read also: Can Ethereum’s Fusaka Upgrade Trigger a Price Rebound?
