🔍 Ethereum (ETH) — Current Analysis (Nov 2025)
Market Context & Fundamentals
$ETH is trading near $3,300–$3,600, and the $3,200–$3,350 area is a critical support zone.
Macro volatility and tightening liquidity are creating risk for leveraged ETH positions, raising the risk of liquidation waves.
On-chain metrics are relatively stable, and DeFi / layer-2 usage remains healthy even as base-layer fees are lower.
A major upgrade — Fusaka — is expected on December 3, 2025, which aims to increase gas capacity significantly, making Ethereum more scalable.
Technical Picture & Price Forecasts
According to recent technical analysis, ETH could rise to $5,200 in the next few weeks if the bullish momentum holds.
On the flip side, the drop below $3,300 could lead to further weakness, if macro conditions worsen.
CoinCodex projects a short-term forecast of $3,757 by Nov 11, 2025, assuming support at current levels holds.
Risks & Catalysts
Risks: Macro headwinds, liquidation from traders, and inability to defend $3,200–$3,350 support.
Catalysts: Fusaka upgrade, institutional adoption, and increased demand for layer-2s could drive upside.
✅ Conclusion
Ethereum is at a delicate point. While there’s strong foundational support and promising long-term catalysts (like the upcoming Fusaka upgrade), the short-term risk is real due to macro uncertainty and potential liquidation pressures. If ETH holds the $3,200–$3,350 zone, a rebound toward $5,000+ is possible. But a breakdown could trigger a deeper correction.
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