🔹 Current Price & Market Sentiment
Price: ETH is trading at $1,613.19, with a market cap of $194.27 billion.
Technical Outlook: A bullish engulfing pattern on the weekly chart suggests potential for an uptrend continuation.
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📊 Futures Market Dynamics
Open Interest: ETH futures open interest stands at $21.6 billion, indicating strong market participation.
Market Positioning: Approximately $3.3 billion in active long positions versus $2.95 billion in shorts, reflecting a bullish bias.
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🔧 Upcoming: Pectra Upgrade
Account Abstraction: Allows users to pay gas fees with ERC-20 tokens like USDC.
Verkle Trees: Improves scalability and storage efficiency.
Staking Flexibility: Introduces more adaptable staking mechanisms.
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🧠 AI Price Prediction
Forecast: AI models predict an average ETH price of $2,284.10 by early April 2025, indicating a bullish outlook.
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🧩 Key Takeaways
ETH is showing signs of bullish momentum with strong futures market support.
The upcoming Pectra upgrade aims to enhance user experience and network efficiency.
