Ethereum’s Pectra upgrade could lay groundwork for next market rally
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Ethereum’s highly anticipated Pectra upgrade could set the stage for the next phase of the 2025 crypto market cycle, according to analysts, even as Ether continues to underperform Bitcoin. The Ether (ETH) price fell over 32% during February, finding a local bottom at an over two-month low of $2,073 before recovering to the current $2,245 mark, Cointelegraph Markets Pro data shows. ETH/USD, 1-year chart. Source: Cointelegraph Ethereum’s upcoming Pectra upgrade, scheduled for March 5, could help ease long-term selling pressure, according to Gabriel Halm, a research analyst at blockchain intelligence firm IntoTheBlock: “While Ethereum’s upcoming Pectra upgrade won’t necessarily trigger an instant price bump, it marks a significant step forward in the ongoing improvements to the Ethereum ecosystem. By reducing consensus overhead and boosting L2 scalability, it will expand the network’s overall capacity, thereby enhancing its competitive edge.” Additionally, Ethereum Improvement Proposal (EIP)-7251 will increase the validator staking limit from 32 ETH to 2,048 ETH, making it easier for validators to compound their earnings, potentially reducing sell pressure over time. Related: Can Ether recover above $3K after Bybit’s massive $1.4B hack? Ether’s over 32% monthly correction may signal that ETH price is setting up for the next leg up based on fractal patterns from the 2017 cycle shared by popular crypto trader Merlijn The Trader in a March 1 X post. Source: Merlijn The Trader In crypto trading, technical traders use price fractal patterns to identify key support and resistance levels and potential trend reversals based on historical data. Related: Ethereum developer Danny Ryan joins Etherealize as co-founder Ethereum Foundation announces leadership shift Ethereum’s price struggles have coincided with months of criticism from community members, who claim the network is losing direction due to competition from high-throughput chains and layer-2 solutions cannibalizing the mainnet. Following the widespread complaints, the Ethereum…
Filed under: News - @ March 2, 2025 12:12 pm