Ethereum's Relative Strength Index (RSI) has broken a multi-month downtrend, suggesting potential upward momentum, with prices currently hovering around $2,800. Analyst Merlijn The Trader highlights that this RSI breakout could lead to a move toward $3,400 if confirmed by price action.
Additionally, the recent Fusaka upgrade has significantly increased Ethereum's block gas limit from 45 million to 150 million, enhancing the network's capacity and throughput. The current price pattern, characterized by descending resistance and horizontal support, has created market tension, with traders watching closely for a breakout.
Ethereum RSI Breakout and Fusaka Upgrade Indicate Potential Surge to $3,400
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