Ethereum price has rebounded in recent days as market participants cheered this week’s Fusaka upgrade that boosted network statistics.
summary
- There are strong technicals in Ethereum price that are likely to lead to a strong bullish breakout and reach $4,900 in the near future.
- The volume of ETH tokens on exchanges has plummeted, a sign that accumulation continues.
- Ethereum boasts top shares in major industries such as DeFi and RWA.
Ethereum (ETH) rose to $3,247, its highest since November 14, and is about 20% above its November low. Here are the main reasons why a 60% surge is on the horizon.
Ethereum price technicals point to a possible rebound
The daily timeframe chart shows that there are very bullish technicals for the ETH price. It is forming a descending wedge pattern connecting the highest and lowest prices since September 26th.
If you look closely, you can see that it is about to break above the upper side of the wedge and flip the supertrend indicator to green.
The two lines of the percentage price oscillator have formed a bullish crossover and are pointing upwards.
Therefore, the most likely scenario is that the token continues to rise and the next major resistance level to watch is the year-to-date high of $4,960, which is ~60% above current levels.
Ethereum price chart |Source: crypto.news
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ETH ETF inflows, decrease in foreign exchange reserves
There are other key reasons why Ethereum’s price rally has room to expand further in the coming weeks.
First, third-party data shows that US investors are still buying Ethereum ETFs despite the continued performance. The ETF added more than $312 million in assets last week and more than $9.6 million this week, according to SoSoValue data. While this week's inflows haven't been huge, it's worth noting that all Spot Bitcoin (BTC) ETFs have shed $142 million.
Second, another sign that demand is recovering is that investors continue to remove Ethereum from exchanges. This supply will be channeled into staking ETFs and ongoing accumulation by companies such as Bitmine, where Tom Lee is chairman. It has purchased over $11 billion worth of Ethereum tokens in the past few months.
According to data compiled by CoinGlass, Ethereum's share of supply on exchanges has fallen to 8.84%, significantly lower than Bitcoin's 14.8%.
ETH is leaving exchanges faster than BTC!
Only 8.84% of all Ethereum is still on exchanges. This is almost half of Bitcoin's 14.8%.
🔹 Staking is locking up supply
🔹 DeFi is withdrawing ETH from CEX
🔹Holder is not here to sellSupply is becoming tight. pic.twitter.com/IbHWR17LPv
— Leon Waidmann 🔥 (@LeonWaidmann) December 5, 2025
Finally, Ethereum developers have continued to improve the network, including through the recent Fusaka upgrade.. The goal is to make the chain much better than other networks, which will lead to more demand from companies building solutions in areas like decentralized finance and tokenization of real-world assets, industries in which the company currently has a strong lead.
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