Ethereum's Fusaka Upgrade Introduces Significant Modifications to Blob Fee System
Fusaka Upgrade Overview: Ethereum's Fusaka upgrade, implemented on December 5th, introduced EIP-7918, which recalibrates the fee structure and blob fees, transitioning from nearly free to a market-reflecting mechanism.
Impact on ETH Dynamics: The upgrade is expected to significantly increase ETH burning rates, potentially escalating them up to eightfold and influencing 30-50% of total burn by 2026, thereby enhancing ETH scarcity.
Layer 2 Economics: While the Fusaka upgrade may strain Layer 2 economics, it aims to correct Ethereum's green-throughput and pricing, promoting sustainable growth and ensuring that ETH validators capture more economic value.
Market Sentiment and Price Fluctuations: As of the upgrade date, Ethereum's price was $3,019.41, with notable volatility reflected in a 3.33% decrease in the past 24 hours and a 35.68% drop over the last 60 days, indicating cautious market sentiment.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0775 | 0.0852 | 0.094 | 0.102 | 0.111 |
| Fibonacci | 0.0686 | 0.075 | 0.0789 | 0.0852 | 0.0915 | 0.0954 | 0.102 |
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