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  • Can Ethereum Price Break Through $1,800 as Pectra Upgrade Looms
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Can Ethereum Price Break Through $1,800 as Pectra Upgrade Looms

Dennis Gatheca 6 May 2025
Ethereum image on green background
  • Ethereum is consolidating around $1,800 ahead of its major Pectra upgrade, which introduces 11 improvements aimed at boosting scalability, staking, and user experience.
  • Despite current price stagnation, strong on-chain accumulation and technical signals suggest a potential breakout.

Ethereum is standing at a pivotal moment. While its price consolidates around $1,800 after months of downward pressure, the network prepares to roll out its most impactful update yet — the Pectra upgrade. With investor sentiment gradually shifting and technical indicators showing early signs of reversal, Ethereum could be gearing up for a major breakout.

Pectra Upgrade Promises Stronger Utility and Scalability

Set to go live this week, the Pectra upgrade introduces 11 Ethereum Improvement Proposals (EIPs), each designed to enhance the network’s performance and appeal. Among the most anticipated changes is EIP-7702, which enables account abstraction — allowing smart contracts to initiate transactions, making Ethereum wallets more powerful and flexible.

Other major enhancements target the staking ecosystem. EIPs 7252, 6110, and 7002 will increase validator caps from 32 ETH to 2,048 ETH, opening the doors for institutional-level staking. In parallel, Layer-2 optimization will reduce transaction costs by compressing rollup data, further increasing network efficiency.

These updates are expected to increase ETH staking and accelerate token burning — two fundamental metrics that can contribute to long-term price growth.

Price Action Hints at a Turning Point

Ethereum’s price has remained relatively unchanged over the last 24 hours, hovering just below $1,800. Yet, analysts believe the cryptocurrency may have finally broken out of its persistent downtrend that began in December 2024.

Ethereum / US DOLLAR price chart for 1 hour period

Technical expert Ted Pillows notes that ETH is now building a base above key support at $1,783, with a potential move toward the $1,830 and $1,880 resistance levels. A breakout past these levels could push the price closer to $2,000.

Still, challenges remain. The short-term trend appears cautious, with ETH struggling against a downward trend line and staying below the 100-hourly Simple Moving Average.

Long-Term Holders Show Steady Confidence

Despite trading far below its December 2024 peak of $4,107, Ethereum is seeing increasing accumulation from long-term holders. On-chain data reveals that accumulation addresses boosted their holdings by more than 22% since March, signaling strong conviction despite current unrealized losses.

A Crucial Moment for Ethereum

As Ethereum approaches its tenth anniversary, the timing of the Pectra upgrade could not be more significant. The mix of robust technical improvements, consistent holder confidence, and early macro recovery signals positions ETH for a possible breakout.

Investors should closely monitor the $1,830 to $1,880 range. A confirmed push above this zone may mark the start of a sustained upward move — while a drop below $1,785 could signal continued consolidation.

DISCLAIMER:
The views and opinions expressed herein are solely those of the author  and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. We encourage readers to conduct further research and consult additional sources before making any decisions based on the content provided.

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