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The Ethereum price rose over 1% in the last 24 hours to trade at $1,835 as of 3:48 a.m. EST on trading volume that surged 53% to $14.1 billion.
This uptick in the ETH price comes ahead of the long-awaited Pectra hard fork that began at 10:05 UTC today. The upgrade is being labelled as the biggest change to the network since the Merge, which transitioned the blockchain to a proof of stake consensus model.
This will change the game for Ethereum : Pectra Upgrade is Live ⚡
Here's how this will impact $ETH Network 🧵
Old Age Labelled ETH = Becoming Modern Day Network
• Fewer Clicks
– No more double signing the transactions
– No more approval + sign pop-up• Smart Wallet… pic.twitter.com/Gsrkc1Rqgq
— Crypto with Khan ( SFZ ) (@Cryptowithkhan) May 7, 2025
Several industry observers have labelled the upgrade as a bullish event. With Ethereum maintaining a first-mover advantage in the decentralized finance (DeFi) space, the increased transaction speeds, user interface improvements and the series of other improvements introduced through the Pectra upgrade is expected to usher the Web3 space into a new era.
It’s also expected to kickstart the the next bull run, as the upgrades give the network the ability to facilitate the growing institutional adoption of Ethereum and the broader digital asset space.
Ethereum Price Breakout Signals A 46% Surge
The ETH price has recently broken out of a descending wedge pattern, a formation typically considered bullish. This pattern had been forming over several months, characterized by lower highs and lower lows converging toward a point.
The breakout occurred with a decisive move above the upper trendline, signaling a potential trend reversal from bearish to bullish.
Currently, the Ethereum price is trading at around $1,835, above the 50-day Simple Moving Average (SMA) at$1,777.79, which further supports the emerging bullish momentum.
The breakout target based on the wedge’s height suggests a potential move toward the $2,700 region, which coincides with the 200-day SMA, adding to its significance as a resistance level, GeckoTerminal data.
Meanwhile, the Relative Strength Index (RSI) is at 57.11, moving upwards but not yet in overbought territory, indicating room for further upside.
The Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, with the blue MACD line above the orange signal line and both in positive territory, supporting continued upward momentum.
The confirmed breakout from the falling wedge, the support from the 50-day SMA, and bullish signals from both the RSI and MACD show that the Ethereum price is likely to attempt a move toward the 200-day SMA at approximately $2,705.
That would result in a gain of around 46% from the current price levels.
On the flipside, the price of Ethereum could drop to the $1,500 level if bears take over.
Meanwhile, crypto investors are enthusiastically turning to BTC Bull Token (BTCBULL), a promising Bitcoin-themed meme coin.
Crypto YouTube channel 99Bitcoins, which boasts over 725K subscribers, predicts 10X gains for BTCBULL holders after the token launches.
BTC Bull Token Presale Heads For The $6 Million Mark
BTC Bull Token sets a new standard by becoming the first crypto project to reward holders with actual Bitcoin.
Designed to thrive during Bitcoin’s explosive runs, BTCBULL aligns with BTC’s rise and turns that momentum into amplified gains for investors.
The token is currently in presale and has already secured $5.38 million in funding.
Buying BTCBULL opens access to BTC airdrops at certain Bitcoin price milestones, starting at $150K, and every $50K increment thereafter.
The excitement around BTCBULL doesn’t stop there. To enhance scarcity and mimic Bitcoin’s limited supply, the project will conduct periodic token burns, beginning when Bitcoin hits $125K for the first time and continuing every subsequent $25K increase.
The burning mechanism reduces BTCBULL’s supply, potentially creating powerful upward price momentum as the meme coin becomes more scarce.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Investors can purchase tokens now for $0.0025 via BNB, ETH, USDT, or bank card and stake them for an impressive 76% annual yield.
With bullish expert endorsements and strong investor interest, BTCBULL’s launch looks set to ignite the crypto community.
Interested investors will want to buy before the next presale price increase in about 2 days to lock in the best deal.
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