Can the Biggest Ethereum Upgrade Since the Merge Spark an ETH Price Rally?

Ethereum’s Pectra upgrade introduces 11 EIPs, focusing on account abstraction and improved staking. ETH Spot volume is declining post-correction, potentially signaling reduced selling pressure. Technical indicators like MACD and RSI show bullish momentum, but $2,030 remains key resistance. Ethereum is on the brink of Pectra upgrade (May 7th), its most substantial one since the 2022 Merge , an event many hope could spark a significant price rally for ETH. With Ethereum’s price currently hovering around $1,826 and showing signs of consolidation after a steep correction, the 20-day EMA at $1,780 has held as support, as per CoinMarketCap data . Understanding Pectra: A Two-Fold Enhancement Pectra is a dual-layer upgrade that combines changes to both Ethereum’s consensus and execution layers. It incorporates 11 Ethereum Improvement Proposals (EIPs), with standout features like: EIP-7702: Introduces smart contract capabilities to wallets, pushing Ethereum further into account abstraction. This will enable gas payments using tokens other than ETH and improve user-friendly wallet designs. EIP-7251: Raises the validator staking cap from 32 ETH to 2,048 … The post Can the Biggest Ethereum Upgrade Since the Merge Spark an ETH Price Rally? appeared first on Coin Edition .

Source: Coin Edition