Ethereum’s Future Outlook in April Amid Market Recovery
As the cryptocurrency market starts to stabilize, investors are eager to know what lies ahead for Ethereum (ETH) in April. This summary provides an overview of Ethereum’s recent performance, market expectations, and potential developments that could influence its price movement.
What To Expect From Ethereum (ETH) in April?
As the market begins to show signs of recovery, the key question for April remains whether Ethereum can regain its bullish momentum. In March, Ethereum plummeted to a two-year low of $1,759 but rallied to $2,104 by March 24 before falling sharply again to close below the critical $2,000 price level at $1,822 on March 31. Amid ETH’s price troubles, the Ethereum network also experienced a severe decline in activity in March, with the daily count of active addresses falling by 20% and the monthly transaction count plummeting.
Ethereum (ETH) Pectra Upgrade May Be Set for May 7
Ethereum developers have reportedly set May 7 as the date for the long-awaited Pectra upgrade. The upgrade was initially expected around April 30 but has been rescheduled. Pectra is considered the biggest upgrade for Ethereum since the Dencun fork, which significantly decreased fees for L2 projects. The decision for the set date arrived after a developer call on April 3, following the final test of the fork on the Hoodi testnet last week.
Soneium Partners with Optimism to Power the Superchain Ecosystem
Soneium, a blockchain project operated by Sony Block Solutions Labs, has joined Optimism’s Chain Delegation Program. This partnership aims to boost Ethereum’s scalability and develop new solutions that benefit the Superchain ecosystem. Soneium implements the Optimism Stack, a modular system designed to enhance Ethereum’s speed and performance. By adopting this technology, Soneium contributes to creating a more accessible and high-performing blockchain infrastructure, supporting Optimism’s goal of maintaining decentralized networks and blockchain ecosystem sustainability in the long term.
Ethereum Price Forecast and Pectra Mainnet Upgrade
Ethereum short-term holders’ selling pressure may reduce in the coming weeks. Ethereum developers have agreed to launch the Pectra mainnet upgrade on May 7. However, ETH could decline to $1,500 if the $1,800 level fails to hold. market participants also reacted to President Donald Trump’s announcements regarding reciprocal tariffs, causing a 3% decline on Thursday. Most ETH short-term holders had already sold their assets in March, reducing the likelihood of further selling pressure. Following Trump’s announcements, Ethereum whales depleted their holdings by 380K.
