Ethereum price surged past $3,100 after a brief market consolidation. The cryptocurrency has been on a bullish trend, bouncing back above $3K over the past week.
Analysts forecast a target of $5,000 for Ethereum after a falling wedge pattern, which indicates robust upward movement.
Crypto Analyst Predicts $5K for Ethereum Price Falling Wedge Pattern
A crypto analyst posted a report on the performance of the Ethereum price, in particular, pointing to a bullish breakout. In his most recent analysis, ETH has managed to escape a falling wedge formation, and this trend was confirmed in the day chart.
The analyst believes that the price of Ethereum will continue to climb, and the next important area is anticipated to be around $5,000. This target is identified as the possible next significant step in the rising of ETH.
ETH Price Eyes Bullish Momentum After Fusaka Upgrade
Ether price shot up with the initiation of its Fusaka upgrade on the mainnet. The second significant update by the network is the upgrade. This was implemented at block height 18,200,000 on Wednesday, and is the second major upgrade of 2019.
Fusaka implements the advancements of data accessibility and block size, which opens the next stage of the Ethereum scaling.
The upgrade came after successful testing of the Holesky, Sepolia, and Hoodi testnets, that was successful in October. The price of Ethereum immediately increased with the activation of Fusaka, and the volume of Ethereum is growing steadily as day goes on.
Ether recorded a negative outflow of 41.5 million ETF, and BlackRock bought 28.4 million Ethereum.
What Next For Ether Price?
ETH price traded at $3,133 on December 5, 2025, marking a modest 0.04% increase from the previous session.
The Ethereum market displayed a range-bound movement, maintaining a price between $3,000 and $3,300.
The future Ethereum outlook may continue to test the upper resistance levels near $3,300. If the price breaks above this level, it could aim for the $3,500 mark. The support level around $3,000 remains as a key level to watch.
Source: ETH/USD 4-hour chart: TradingviewThe Chaikin Money Flow (CMF) is at +0.27, indicating moderate buying pressure. This shows that there is a slight trend of upward movement in the market participants.
Additionally, The Moving Average Convergence Divergence (MACD) stands at a level which is in the negative position, and the MACD line is below the signal line. The MACD histogram, however, indicates a positive movement, which indicates some possibility of reversal.
Source: https://coingape.com/markets/ethereum-price-breaks-out-of-falling-wedge-next-target-now-set-at-5k/
