Ethereum price prediction is gaining momentum ahead of the highly anticipated Pectra upgrade, set to go live on May 7. This marks Ethereum’s most significant update since the Merge in 2022. Some traders hope that the event could trigger a major ETH rally, especially given its current technical setup.
According to CoinGecko, Ethereum is trading near $1,840 and shows consolidation signs after a recent correction. The 20-day EMA remains supportive at around $1,780, indicating possible bullish pressure.
Ethereum Price Prediction: Can the Pectra Upgrade Push ETH Higher?
The Ethereum price prediction narrative centers on Pectra — a dual-layer upgrade that affects both consensus and execution layers. It includes 11 Ethereum Improvement Proposals (EIPs), with two in particular catching analysts’ attention:
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EIP-7702: Allows wallets to function like smart contracts. This means users can pay gas fees using tokens other than ETH, improving wallet usability and flexibility.
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EIP-7251: Raises the validator staking limit from 32 ETH to 2048 ETH, reducing operational costs and improving staking efficiency.
These changes aim to make Ethereum faster, more efficient, and more user-friendly — which could lead to a stronger investor outlook and boost ETH prices.
Technical Outlook for ETH: Signals Turn Bullish
From a charting perspective, the ETH price forecast looks promising. The Relative Strength Index (RSI) currently sits at 56.2, suggesting ETH is neither overbought nor oversold. This leaves room for movement in either direction.
Meanwhile, the MACD indicator shows a bullish crossover, with the MACD line above the signal line. The histogram is also positive, reinforcing bullish sentiment.
Ethereum recently bounced from the $1,600 zone and is now testing Fibonacci extension resistance at the 1.0 level ($1,841). If bulls break this zone, the next targets could be:
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1.618 Fibonacci: ~$2,030
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2.618 Fibonacci: ~$2,335
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3.618 Fibonacci: ~$2,641
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4.236 Fibonacci: ~$2,829
Traders say these levels mark potential price milestones in a strong bullish breakout scenario.
Market Analysts Eye Institutional Demand
Beyond technicals, the Ethereum price prediction is supported by growing institutional demand. Analysts say that if ETFs and large investors continue to accumulate ETH during and after the upgrade, prices could rise substantially.
Compared to other blockchain networks, Ethereum’s post-Merge upgrades have aimed to improve decentralization and scalability. Pectra continues this path — and may be viewed as a confidence signal for long-term holders.
The upgrade’s success could also spark renewed interest in DeFi and Ethereum-based applications, adding more fuel to a possible price rally.
What to Watch After the Pectra Upgrade
While the Ethereum price prediction remains bullish, experts caution that short-term volatility is likely. As with previous upgrades, prices may swing in both directions before finding a new trend.
Still, traders agree that Pectra is a major milestone. It brings long-awaited improvements that align with Ethereum’s long-term vision — and that could change the market’s valuation of ETH in the coming weeks.
