Ethereum (ETH) Price: Pectra Upgrade Set for May 7 as Token Tests $1,880 Resistance
By: the crypto news wire|2025/05/02 10:30:02
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TLDR Ethereum co-founder Vitalik Buterin revealed his 2025 priorities, with L1 scaling topping the list ETH is currently trading in a bullish trend, up 20% from $1.5k to $1.8k The upcoming Pectra upgrade is scheduled for May 7, aiming to improve staking and wallet features ETH is facing resistance at $1,880 but could target $2,000 if momentum continues Market sentiment shows “Greed” on Ethereum’s Fear and Greed Index, suggesting bullish outlook Ethereum co-founder Vitalik Buterin has recently outlined his goals for 2025, with Layer 1 scaling taking the top spot on his priority list. This announcement comes as ETH has been showing bullish momentum, with the price climbing from $1,500 to around $1,800 in recent days. Buterin’s 2025 roadmap includes several key focus areas that align with the Ethereum Foundation’s leadership objectives. Decentralization and resilience (security) feature prominently among these priorities. Privacy and open-source technology were also highlighted by Buterin. He stressed the importance of privacy in front-end user systems, including applications and wallets. Beyond his work on Ethereum, Buterin expressed interest in governance, open-source funding, and bio defense. The Ethereum network is preparing for its Pectra upgrade, scheduled to go live on May 7. This upgrade aims to enhance staking and wallet features, though it has experienced several delays due to technical issues. Following Pectra, the Fusaka upgrade is planned to further scale the network. It will allow Ethereum and Layer 2 applications to handle greater data volumes. There has also been a push for Layer 2 interoperability to address liquidity fragmentation issues within the Ethereum ecosystem. Current Market Position The price action for ETH has been positive. Since April 22, the Super Trend indicator has been flashing a “buy” signal on the 12-hour chart. This buy signal has corresponded with a 20% increase, taking ETH from $1,500 to approximately $1,800. Market sentiment appears bullish, with Ethereum’s Fear and Greed Index showing a “Greed” reading on May 1, suggesting market optimism. Technical Analysis On the hourly chart, ETH has shown strength above the $1,720 support level and has climbed past several resistance levels, including $1,780 and $1,800. Ethereum Price on CoinGecko The price reached a high of $1,872 before consolidating. ETH currently trades above the 100-hourly Simple Moving Average, indicating bullish momentum. A short-term contracting triangle is forming with resistance at $1,860. The immediate hurdle is at the $1,850 level, with more significant resistance near $1,880. If ETH breaks above $1,880, the next targets would be $1,920, followed by $1,950. A successful move past these levels could push the price toward the $2,000 mark. Support levels to watch include $1,840, followed by $1,800. If ETH falls below these levels, further support exists at $1,765 and $1,720. The MACD indicator on the hourly chart shows momentum in the bullish zone, supporting the positive outlook. The $1,900 level remains the main short-term target for ETH, which traders expect will be reached unless the Super Trend indicator signals a sell before hitting this level. The post Ethereum (ETH) Price: Pectra Upgrade Set for May 7 as Token Tests $1,880 Resistance appeared first on Blockonomi .
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