$ETH 🚨Recent ETH Core Developments + Market Outlook

1️⃣ #Ethereum is set to undergo the Pectra upgrade on May 7, introducing several key EIPs:

EIP-7251: Validator cap ↑ to 2048 ETH

EIP-7702: EOA accounts support contract functionality → Enhanced composability and scalability

2️⃣ Currently, ETH is trading around **$1,800**, with a clear short-term bottom forming.

Dropped below 1800 but was quickly pulled back up, with solid technical support.

Above the 200-day EMA & SMA, maintaining a short-term bullish structure.

3️⃣ Funding situation:

Hong Kong ETH spot ETF has been approved → Attracting institutional attention.

Staking services are simultaneously open, releasing long-term lock-up expectations.

🔮Market Outlook:

If Pectra goes live smoothly & the ETF continues to attract funds, ETH is expected to challenge the **$2,000-$2,200 range**.

The value of positioning in the bottom area is becoming apparent, and this stage may be a “bull market accumulation phase.”

#ETH #Ethereum #EthereumUpgrade #Pectra #CryptoNews