Ethereum (ETH) has dropped below the $3,900 support level, currently trading at approximately $3,838. This decline is linked to significant withdrawals from Ethereum ETFs and overall market uncertainty, contributing to a 1% market drop in the last 24 hours and over 6% in the past month.
The Fusaka upgrade, which includes EIP-7594 and a gas limit increase to 150 million, has been launched on the Hoodi testnet and is scheduled for mainnet deployment on December 3. The upgrade aims to enhance Ethereum's scalability and efficiency. Despite the current price dip, some analysts remain optimistic about Ethereum's potential to reach $5,000 in the coming months.
Ethereum Falls Below $3,900 Amid Market Uncertainty and Fusaka Testnet Launch
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