Wednesday, July 23, 2025
Daily Crypto Post
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
Daily Crypto Post
No Result
View All Result

Ethereum Price Struggles, but Pectra Upgrade Could Shift the Momentum

Irene Mukiri by Irene Mukiri
February 7, 2025
in Binance Feed, Market
Reading Time: 3 mins read
Ethereum Price Struggles, but Pectra Upgrade Could Shift the Momentum
Share on FacebookShare on TwitterShare on RedditShare on Telegram
  • Ethereum’s next support level is $2,520, with potential for a deeper decline.
  • ETH faces significant resistance above $2,720, making short-term gains difficult.
  • Pectra upgrade aims to improve wallet usability and staking efficiency for validators.

Ethereum (ETH) is currently facing bearish pressure, with recent technical analysis indicating a potential decline unless the price reclaims key resistance levels. As of press time, ETH is trading at $2,725, reflecting a 4.06% drop in the last 24 hours. 

Support and Resistance Levels in Focus

The latest analysis from Open4profit highlights the crucial support level for ETH at the $2,520 zone. This price range aligns with a previous demand area, making it a strong point for potential price stabilization. Should selling pressure persist, the next support could be in the $2,150-$2,200 range. 

Related articles

Developer Activity Soars ICP, Chainlink, and Filecoin Lead July Rankings

Developer Activity Soars: ICP, Chainlink, and Filecoin Lead July Rankings

July 23, 2025
How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher

How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher

July 23, 2025

🚨 ETH Quick Analysis

Volume profile showing next support… pic.twitter.com/OnaPDQbbXE

— Open4profit (@open4profit) February 7, 2025

Consequently, a breakdown of these levels would likely result in a deeper price correction. On the upside, however, ETH faces heavy resistance above $2,720. The volume profile shows that this level will make an upward move challenging in the short term. Therefore, unless ETH reclaims the $2,720 resistance, a bearish outlook seems likely.

Declining Derivatives Activity

According to Coinglass data, Ethereum’s derivatives market has experienced a decline across multiple key metrics. Trading volume fell by 2.38% to $41.79 billion, while open interest dropped by 6.60%, standing at $23.20 billion. 

Additionally, options volume and open interest saw notable reductions, with decreases of 7.54% and 8.74%, respectively. These figures suggest that market participants are becoming more cautious about Ethereum’s near-term prospects.

Network’s Upcoming Upgrade

Despite the market slowdown, Ethereum’s development community is focused on the upcoming Pectra upgrade. Set to launch in April, Pectra promises several crucial improvements. 

Pectra is going live 🥳

Holesky will fork at slot 3710976 (Mon, Feb 24 at 21:55:12 UTC)
Sepolia will fork at slot 7118848 (Wed, Mar 5 at 07:29:36 UTC)

Assuming Sepolia goes smoothly, we'll pick the mainnet slot on the March 6 ACD call 📅

— timbeiko.eth (@TimBeiko) February 6, 2025

Key features include EIP-7702, aimed at enhancing the user experience for Ethereum wallets. This will make it easier for users to pay gas fees in various currencies, not just ETH, by reconfiguring wallet addresses to support smart contract functionality.

Another significant change is EIP-7251, which allows validators to stake up to 2,048 ETH, an increase from the current cap of 32 ETH. This change is designed to streamline validator operations and reduce the long wait times for setting up new nodes.

Ethereum developers are hopeful that these upgrades will help the network regain its competitive edge, especially as it faces increasing pressure from rival networks like Solana.

Tags: Ethereum (ETH) NewsPrice Analysis

Related Posts

Developer Activity Soars ICP, Chainlink, and Filecoin Lead July Rankings

Developer Activity Soars: ICP, Chainlink, and Filecoin Lead July Rankings

by Munene Timothy
July 23, 2025

Internet Computer tops developer charts with 481.07, far ahead of Chainlink and Filecoin, showing strong builder momentum. Sui’s futures open...

How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher

How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher

by Veronicah Peninah
July 23, 2025

Bitcoin’s fixed supply benefits from expanding fiat credit, driving its price growth as government money supply increases. Stablecoins link crypto...

Gulf Craft Leads MENA Region in Launching Regulated Crypto Payment System for Yachts

Gulf Craft Leads MENA Region in Launching Regulated Crypto Payment System for Yachts

by Irene Mukiri
July 23, 2025

Gulf Craft becomes first MENA shipyard to accept regulated crypto payments Integration of ARP Pay boosts flexibility with USDT and...

Why Cardano Could Be Poised for a $2 Run

Why Cardano Could Be Poised for a $2 Run

by Jonathan Carls
July 23, 2025

ADA's monthly RSI and MACD show patterns that historically precede major rallies. Cardano forms a bullish triangle despite short-term volatility...

FSS Warns Korean ETFs Against Overloading on Coinbase, MicroStrategy

FSS Warns Korean ETFs Against Overloading on Coinbase, MicroStrategy

by Jonathan Carls
July 23, 2025

South Korea’s FSS urges caution on ETFs heavily exposed to Coinbase and crypto firms. Regulatory gaps from 2017 guidelines raise...

Load More

Recent News

  • Developer Activity Soars: ICP, Chainlink, and Filecoin Lead July Rankings
  • How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher
  • Gulf Craft Leads MENA Region in Launching Regulated Crypto Payment System for Yachts
  • Why Cardano Could Be Poised for a $2 Run
  • FSS Warns Korean ETFs Against Overloading on Coinbase, MicroStrategy

Popular News

  • Solana SOL Has Just Reclaimed $7 Billion in DeFi TVL

    Solana: SOL Has Just Reclaimed $7 Billion in DeFi TVL

    232 shares
    Share 93 Tweet 58
  • Over $33M in Token Unlocks Set to Impact Crypto Markets Amid Escalating Global Tensions

    200 shares
    Share 80 Tweet 50
  • KEKIUS Price Prediction for June 2025: Signs of Weak Momentum and Accumulation Battle

    197 shares
    Share 79 Tweet 49
  • Bitcoin and Ethereum Face Pressure as 2,500 BTC and 80,000 ETH Hit Exchanges Amid Political Fallout

    197 shares
    Share 79 Tweet 49
  • SUI Price Breakout or Fakeout? What Chart Patterns Are Saying

    196 shares
    Share 78 Tweet 49

Live Crypto News | Bitcoin and Altcoins News & Insights.

Recent News

Developer Activity Soars ICP, Chainlink, and Filecoin Lead July Rankings
Developer Activity Soars: ICP, Chainlink, and Filecoin Lead July Rankings
July 23, 2025
How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher
How Expanding Fiat Credit and Policy Shifts Propel Bitcoin and Crypto Markets Higher
July 23, 2025
Gulf Craft Leads MENA Region in Launching Regulated Crypto Payment System for Yachts
Gulf Craft Leads MENA Region in Launching Regulated Crypto Payment System for Yachts
July 23, 2025

© Daily Crypto Post. Live Crypto News | Bitcoin and Altcoins News & Insights. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact