ETH price overview today

Image:https://www.gate.io/trade/ETH_USDT

ETH briefly retraced to around $2,400 in the early session, but returned to near $2,550 with the support of bullish momentum. Overall, the price remains in a sideways consolidation pattern.

Market review after Pectra upgrade

• Upgrade time: May 7, 2025
• Core Highlights:

- Account Abstraction (EIP-7702)
- Increase in the collateral upper limit (EIP-7251)
- blobspace expansion (EIP-7691)

• Subsequent performance: Within one week after the upgrade, ETH once touched the high of $2,650, but then due to macro short-selling and profit-taking in the market, it retraced to the current level.

Although the upgrade of Pectra brings structural benefits, it is currently constrained by fund diversion and macro risks, and new buying interest needs to wait for clearer driving factors.

Key Technical Indicator Interpretation

1. Relative Strength Index (RSI): currently around 52, in the neutral to slightly bullish zone, not giving a clear signal to either bulls or bears.
2. MACD: The histogram is contracting upwards. If it can break through the zero axis, it implies that a new round of upward momentum may be coming.
3. Trading volume: There are signs of increased volume in the past three days, indicating some buying support in the $2,500-$2,600 range.
4. Bollinger Band width: narrowing trend, indicating a possible range breakout.

Price-driving factors of the day

• Macroeconomics: The uncertainty of the Fed’s policy still exerts pressure on risk assets.
• Cryptocurrency market sector rotation: Bitcoin’s short-term rise attracts mainstream attention, funds relatively divert from ETH.
• On-chain dynamics: The staking rate continues to rise, the lock-up amount increases, which is expected to help with long-term supply tightening.
• Community activities: Multiple Layer2 projects are expected to airdrop next week, boosting expectations for demand for ETH.

Beginner Investment Strategy

• Staggered entry: You can gradually layout in the range of $2,450-$2,500, with the stop-loss set at $2,350 below.
• Set target price: short-term target could be set at $2,700; if broken, further lock at $2,800.
• Risk management: Single risk control is set at 2%-3% of total position, and dual authentication is used to ensure asset security.
• Continuous learning: Pay attention to the subsequent implementation of Pectra EIP and community proposal trends, and seize the opportunity for the next round of upgrades.