Ethereum’s much-anticipated Pectra upgrade has reached a major milestone with its launch on the Holesky testnet. This upgrade introduces important improvements for validators, wallets, and layer-2 scaling, allowing developers to test these features before they go live on the Ethereum mainnet.
Ethereum developers have been working on Pectra for months, and its activation on Holesky at epoch 115,968 marks a crucial step. The Sepolia testnet already adopted the upgrade at epoch 222,464 on March 5.
Now, with both test networks testing the changes, Ethereum developers are expected to decide on a mainnet launch date soon.
The Pectra upgrade follows Dencun, which was implemented in March 2024 to lower transaction fees on layer-2 networks. While Dencun focused on reducing costs, Pectra introduces new features that improve Ethereum accounts and staking efficiency.
Pectra is one of Ethereum’s biggest upgrades since 2024, bringing 11 major improvements known as Ethereum Improvement Proposals (EIPs). Among them, two stand out:
With these changes, Ethereum aims to provide a smoother experience for both validators and everyday users.
Despite the excitement around Pectra, Ethereum’s price remains stuck in consolidation. A breakout could happen if a strong rally follows the March 7 Crypto Summit, but a pullback might be needed to establish strong support.
For ETH to gain momentum, it must retest the $2,600–$2,700 resistance zone before a potential correction. If the price dips into the $1,600–$1,700 demand area, it could create a buying opportunity, especially with the Relative Strength Index (RSI) nearing oversold levels.
According to CoinGlass data, a 2.6% drop below $2,154 could trigger $298 million in long liquidations. If ETH falls further below $2,107 and $2,049, liquidations could rise to $582 million and $705 million, respectively.
Overall, an 8% decline could push total liquidations beyond $700 million, adding more pressure to ETH’s price.
Ethereum’s future depends on whether the Pectra upgrade boosts investor confidence or if broader market conditions push prices lower in the short term.
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