ETH fell to about $2,803 after breaking the $2,900 support amid large-holder (whale) sell flows. Derivatives volumes rose (ETH +19%, overall +46%) while open interest fell, suggesting position unwinds. On-chain and Renko analysis indicate further downside with immediate support near $2,700 and lower support around $2,250. Technicals are bearish (RSI ~33, negative MACD). The Fusaka upgrade scheduled Dec. 3 aims to lower rollup costs and boost throughput, which could improve ETH’s economic profile over time but is unlikely to reverse the current bearish setup immediately.

Price broke the $2,900 support and traded near $2,803; whale-driven sell flows and Binance metrics show large-holder selling. Derivatives volume rose (ETH +19%, overall +46%) while open interest fell, indicating position unwinds. On-chain and Renko analysis project further downside with support levels at ~$2,700 and ~$2,250. Technical indicators are bearish (RSI ~33, negative MACD). The Fusaka upgrade aims to reduce rollup costs and increase throughput but the summary states it is unlikely to immediately reverse the current bearish setup.