Ethereum (ETH) has seen significant growth, surpassing the $2,000 mark thanks to the successful Pectra upgrade and institutional investments.
Ethereum Breaks Out Amid Whale Accumulation
Ethereum has confirmed a breakout from a descending pattern that has been forming for the last five months. According to Captain Faibik's observations, this breakout marks the end of a consolidation phase. Strong whale accumulation is also supporting the rise, with Abraxas Capital purchasing 123,000 ETH for $227 million.
Success of the Pectra Upgrade and Its Price Impact
The Pectra upgrade has improved staking mechanics and overall network performance, increasing the maximum stake from 32 ETH to 2,048 ETH to enhance efficiency. Following the upgrade, ETH has risen over 12% in the last 24 hours.
Current Trends and Future Prospects
Although ETH has reclaimed the $2,200–$3,900 range, analysts caution that the RSI and MACD indicators have yet to confirm a full bullish trend reversal. Long-term resistance also remains an issue.
This surge in Ethereum signals market sentiment and interest from major investors. However, short-term indicators require careful monitoring.
