Ethereum (ETH) Price: Holds $4,000 Support as Fusaka Mainnet Launch Approaches
TLDR
Ethereum price dropped from $4,252 to below $4,000 after starting a downside correction
The cryptocurrency broke below a bullish trend line with support at $4,100 and fell beneath the 100-hourly Simple Moving Average
If ETH fails to hold above $3,920, further decline could push prices toward $3,880 or lower
Ethereum’s Fusaka upgrade completed its final test on the Hoodi testnet on October 28, preparing for mainnet launch
The Fusaka upgrade is tentatively scheduled to go live on mainnet around December 3, at least 30 days after the final test
Ethereum price started a downside correction from $4,250 during the latest trading session. The cryptocurrency fell below multiple support levels after reaching a high of $4,252.
The second-largest cryptocurrency extended gains above the $4,050 level before bears took control. ETH surpassed $4,200 but failed to maintain the momentum at higher levels.
A high formed at $4,252 before the price started moving lower. The correction brought ETH below the $4,120 and $4,050 levels in quick succession.
The price dropped below the 50% Fibonacci retracement level from the recent wave. This wave stretched from the $3,708 swing low to the $4,252 high.
A break below a bullish trend line occurred on the hourly chart. The trend line had support at $4,100 before giving way to selling pressure.
Ethereum is now trading below $4,080. The price also fell beneath the 100-hourly Simple Moving Average.
Technical indicators show bearish momentum building. The hourly MACD is gaining momentum in the bearish zone.
The RSI for ETH dropped below the 50 zone. This reading suggests weakening bullish sentiment in the short term.
Support and Resistance Levels
If the price attempts another increase, resistance will appear near $4,040. The next key resistance sits at $4,080.
Source: TradingView
The first major resistance level is near $4,120. A clear move above this level might send the price toward $4,200.
An upside break above $4,200 could lead to more gains. Ether could rise toward the $4,240 resistance zone or even $4,250.
If Ethereum fails to clear $4,080, a fresh decline could start. Initial support on the downside is near $3,950.
The first major support sits near $3,920. This level aligns with the 61.8% Fibonacci retracement level of the recent wave.
A clear move below $3,920 might push the price toward $3,880. Further losses could send ETH toward the $3,840 region.
The next key support level sits at $3,780. Multiple support zones could provide buyers with opportunities if the decline continues.
Fusaka Upgrade Advances
While price action turned negative, network development continued forward. The final dress rehearsal for Ethereum’s upcoming Fusaka upgrade occurred on October 28.
Ethereum’s next major upgrade, Fusaka, is now live on the Hoodi network! ✅
Fusaka mainnet activation is scheduled for December 3rd.
Fusaka introduces multiple EIPs to improve scalability, strengthen security, and reduce costs. The upgrade will unlock the next phase of rollup… pic.twitter.com/VQkosIouZQ
— Consensys.eth (@Consensys) October 28, 2025
The test went live around 18:53 UTC on the Hoodi testnet. Hoodi was the last of three testnets to run through a simulation of Fusaka.
Two other successful test upgrades occurred on the Holesky and Sepolia networks. The test involved passing a series of code changes meant to make Ethereum more scalable and cost-efficient.
Fusaka comes roughly six months after Ethereum’s Pectra upgrade. The upgrade introduces changes designed to cut costs for developers, users and institutions running on the network.
The centerpiece of Fusaka is PeerDAS. This feature lets validators check only segments of data instead of full blobs.
PeerDAS eases bandwidth demands. It also lowers expenses for both validators and layer-2 networks.
With all three tests complete, developers will finalize the date for mainnet launch. According to the Ethereum Foundation, it will be at least 30 days after the October 28 test.
This timeline puts the earliest possible launch at November 28. Core developers discussed potentially having it go live on mainnet on December 3 during a bi-weekly call last week.
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Filed under: News - @ October 29, 2025 7:26 am