$ETH 📉 Current Trend Overview

Ethereum is trading around $2,790, showing a modest intraday gain but the overall trend remains near a two-week low. Despite the slight uptick, volatility is elevated with swings between $2,660 and $2,820 today, reflecting trader caution.

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🔍 Key Drivers This Week

Macro and regulatory backdrop: Persistent concerns over macroeconomic slowdowns and shifting U.S. crypto policies have weighed on risk assets like ETH.

Institutional developments: The inclusion of $ETH in the U.S. Strategic Bitcoin Reserve—alongside BTC, SOL, ADA, and XRP—signals growing recognition of Ethereum’s importance in the digital asset ecosystem .

Protocol upgrades: Anticipation around the upcoming Prague–Electra ("Pectra") upgrade, expected mid‑2025, adds a bullish structural narrative. This will boost validator flexibility and performance .

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⚖️ What It Means for Traders

Short-term sentiment remains cautious due to economic uncertainty.

Buyers are eyeing the lower $2,600–$2,700 range as potential entries.

If Pectra testnet results are clear and positive, ETH could retest resistance levels near $3,000.

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📝 Summary

Ethereum sits in a neutral-to-slightly-bullish zone, balancing between short-term macro headwinds and underlying strength driven by upcoming on-chain upgrades and institutional interest. For traders, this week’s price action suggests a measured approach—watching key support and resistance lines, evaluating upgrade news, and monitoring broader market sentiment around risk assets.

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Is a breakout above $3,000 next? Or will macro delays push ETH lower? Let’s discuss your outlook!