Ethereum News: Whales Boost Buying Amidst Anticipation of Pectra Mainnet Upgrade on April 30, But Price Faces Hurdles

Ethereum Price Forecast: Whales Increase Buying Pressure as Developers Set April 30 for Pectra Mainnet Upgrade

Ethereum (ETH) has seen immense buying from whales on Thursday following CORE developers fixing April 30 as a tentative date for the Pectra upgrade to go live on mainnet. In its latest All Core Developers Consensus (ACDC) call, Ethereum developers tentatively scheduled April 30 for the Pectra mainnet upgrade.

Ethereum Faces Growing Downside Risk, Struggles to Break $2,100 Resistance

Ethereum has lost its grip on the key $2,000 level, reigniting fears of a deeper correction as selling pressure returns to the market. Since March 19, ETH has managed to hold above $1,930, but recent weakness has pushed the price dangerously close to breaking below the $1,900 mark. The inability to hold above psychological support levels has weighed heavily on sentiment, especially as broader market volatility continues to grow. Top analyst Carl Runefelt noted that Ethereum has repeatedly failed to overcome resistance at $2,100, adding fuel to bearish speculation.

Ethereum’s Pectra Upgrade Goes Live on April 30 – Here’s What to Expect

The Pectra upgrade, a fusion of Ethereum’s execution and consensus layers Prague and Electra, is scheduled to go live on April 30. This major upgrade aims to incorporate significant Ethereum Improvement Proposals (EIPs) to make the blockchain more scalable, user-friendly, and efficient. It involves 11 EIPs with notable new features yet to be fully detailed.

Ethereum (ETH) Price Prediction for March 28

Currently, Ethereum (ETH) is trading at $1,877.20, after a 6.46% decrease in the last 24 hours. The decline suggests sellers have taken control, possibly due to profit-taking or external market shocks. Over the past 30 days, ETH has declined by 22.81%, indicating significant medium-term bearish pressure. Short-term sentiment is negative, but broader market fundamentals, including regulatory issues and volatility concerns, remain in play. Moving averages on the 4-hour timeframe are stabilizing.