Ethereum (ETH) demonstrates signs of potential growth, especially amid recent whale activity and the anticipated Pectra upgrade. Prices fluctuate around $1,800 and $1,850, creating an upward potential.
Support and Resistance Levels for Ethereum
Currently, the Ethereum price is around $1,827, showing early signs of possible upside. Liquidity levels above and below the current range suggest that a price change may occur soon.
Whale Activity and Liquidation Zones
A recent purchase by an Ethereum whale for $4.75 million on Binance signals growing interest at current levels and reinforces the $1,800 accumulation zone. Analysis of liquidation zones indicates potential volatility, as liquidations of both long and short positions are located on either side of the current price.
Pectra Upgrade Outlook
The upcoming Pectra upgrade on May 7 is a significant event impacting the Ethereum market. Analysts note that this upgrade will enhance the blockchain's scalability and play a vital role in Ethereum's future development, including real asset tokenization.
Considering the current market activity, upgrades, and technical levels, Ethereum may demonstrate growth in the short term, making it a focal point for investors.
