Market Overview Ethereum ( ETH ) is currently trading at $3,078.95, reflecting a 1.87% decrease from the previous close. The cryptocurrency has experienced an intraday high of $3,163.00 and a low of $3,042.44, indicating moderate volatility within the market.
Network Upgrades : The Ethereum network is preparing for the upcoming “Pectra” upgrade, combining elements from the Prague and Electra updates, aiming to enhance scalability and efficiency .
Technical indicators present a cautious outlook: Moving Averages : The 10-day Simple Moving Average (SMA) is trending downward, indicating potential selling pressure. Relative Strength Index ( RSI ) : The RSI is approaching oversold territory, suggesting weakening buying momentum. Moving Average Convergence Divergence ( MACD ) : The MACD line is below the signal line, confirming bearish momentum.