Ethereum (ETH) has recently significantly outperformed Bitcoin (BTC) in terms of price growth, marking a noticeable shift after two years of stagnation. Network upgrades and technical indicators have positively impacted this trend.
Key Aspects of Ethereum's Growth
Over two days, ETH rose 37% against BTC's 7.7%, attributed to the formation of rare 'golden cross' patterns on one-hour and four-hour charts. These signals often indicate a shift towards an upward trend.
Pectra Upgrade as a Catalyst
Ethereum's price surged nearly 30% to $2,489 following the activation of the Pectra upgrade, which is considered the most significant update since Ethereum's transition to proof-of-stake in 2022. This upgrade aims to enhance transaction efficiency and network security.
Prospects and Challenges for Ethereum
Ethereum needs to maintain prices above $2,400 to counter consolidation risks. Current technical signals suggest cautious optimism, but ETH still requires improvement in utility and adoption for sustained growth.
Ethereum has shown impressive growth, but addressing many internal and external challenges is crucial for further success. Maintaining price levels and introducing new features will be key factors.
