Crypto news

The Ethereum Rollercoaster: Will $1,800 Hold, or Is It Just the Calm Before the Bull Run?

BBG News

Well, well, well. Ethereum (ETH) has decided to hold its ground at $1,805, like a brave knight defending a crumbling castle. Despite the chaos in the crypto kingdom, ETH refuses to go below $1,800. And with the impending Pectra upgrade, there’s a solid chance it might even rise above that, like a phoenix emerging from the ashes… if you believe in that sort of thing.

The altcoin that dares to be called “biggest” seems poised for a major comeback. But will this upgrade catapult ETH into the stratosphere and break the $2,000 barrier? Your guess is as good as ours. 🤷‍♂️

Ethereum Price: Is It Holding Firm or Just Lurking in the Shadows? 🧐

Looking at the 4-hour chart, Ethereum’s price is showing a very unexciting sideways movement, comfortably nestled above the $1,755 mark. It’s like sitting in traffic—nothing’s moving, but at least you’re not going backward. This zone is crucial, extending between $1,754 and $1,765, and ETH seems to enjoy bouncing back from here like a cat after a failed jump.

While Ethereum’s not exactly winning any races, the 200 EMA line is still giving it a gentle push up. But beware: the upper ceiling is hovering around $1,855, making you wonder if it can muster enough energy to break through it, or if it’s just stuck in the same old loop. ⏳

Now, here’s where it gets a bit interesting—ETH is sitting comfortably above $1,800, and those 100 and 200 EMA lines are gearing up for a little crossover. But the RSI? Oh, it’s just sitting there like someone waiting for the bus, barely managing to scrape past the halfway point.

Based on Fibonacci levels, if Ethereum can break past $1,855, we could be looking at a price test near $1,949. 💰 Optimistic? Sure. Realistic? Maybe. But hey, that’s crypto for you.

If the stars align, ETH could even reach $2,100. But if it falls below $1,755, be ready for the dreaded $1,676 support. Not exactly the fun zone, if you ask me. 😬

Could Ethereum Surpass $2,000? Well, the Data Seems to Think So! 💡

As Ethereum hovers around $1,800, a fascinating indicator called “in/out of the money” from IntotheBlock is throwing up a big warning sign: resistance ahead. This “resistance” zone stretches from $1,805 to $1,857 and is filled with a mind-boggling 5.85 million ETH across 4.48 million addresses. Talk about a party that’s already too packed. 🍾

In contrast, the nearest demand zone from $1,748 to $1,800 only holds 2.29 million ETH across 3.46 million addresses. Not exactly an overwhelming number, but still… better than nothing.

If Ethereum can muscle its way past this resistance, expect a smoother ride to $2,000. The supply ahead is much lighter, and who doesn’t love a good, smooth ride? 🛣️

Ethereum’s Cooling Off: Is This the Calm Before the Storm? 🌪️

Ethereum is cooling off, and I mean that in the most literal sense possible. Spot volume is slowing down, and analyst DarkFost seems to think this could be the perfect setup for a potential bullish recovery. Imagine your favorite rollercoaster slowly climbing the hill before it plummets—except this time, it could go up. Or down. Or both. 🤷‍♀️

The Ethereum spot volume bubble map is showing a sharp decline, which could mean less volatility and less panic selling. Because who doesn’t want to avoid the dreaded “market meltdown” moment, right?

But before you get too excited, don’t pop the champagne just yet. DarkFost also warns that this slowdown doesn’t necessarily mean we’ve hit bottom. So, keep your helmets on, folks! 🏂

The Pectra Upgrade: More Than Just a Fancy Name

Oh, here we go. The Pectra upgrade is coming, and it’s bringing a smorgasbord of changes to Ethereum, from validator consolidation to cheaper Layer 2 transactions. Think of it like Ethereum’s spring cleaning, but with more technical wizardry than you can shake a blockchain at.

One of the major changes includes validator consolidation, increasing the market cap from 32 ETH to 2,048 ETH. No big deal, right? Oh, and Layer 2 transactions will get a lot cheaper—like, buy-one-get-one-free kind of cheaper. 💸

Smart wallets are also getting a makeover, thanks to EIP-7702, which will allow Ethereum wallets to handle temporary smart contracts. It’s like giving your wallet a brain upgrade, except no one’s going to have to pay for it with a $200 app subscription.

But don’t start celebrating just yet! There are risks too. For one, consolidating validators could lead to a bit of centralization. And, of course, the reliance of dApps on call data could hike up transaction costs. Always a catch, isn’t there? 🙄

Still, the Pectra upgrade has the potential to send Ethereum’s price soaring—if it doesn’t break everything first. 👀

Coinbase Is Pausing Ethereum Deposits Ahead of the Big Upgrade 🚫

In case you were planning on making any wild Ethereum moves, Coinbase has decided to temporarily pause Ethereum deposits and withdrawals. Why? Oh, just to make sure your funds don’t magically vanish into thin air as the Pectra upgrade looms. The pause will happen from 2:50 am to 3:45 am PT, because what better time to cause a small panic than in the dead of night?

But fear not! No existing staking positions will be harmed in the process. However, if you were hoping to start a new staking request during this cool-off period, you’ll have to wait until 3:45 am PT. 😴

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2025-05-06 10:44

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