What path for the price of Ethereum (ETH) with the sick update

The Ethereum Network is located on the edge of its transforming sight update a few hours from its end, and both the ETH traders and the Hodlers are scanning the technical and on-chain indicators in search of clues about the next directional movement.

The accumulation of Ethereum whales is a sign of conviction

As the tong update is approaching, Ethereum’s greatest interested parties, with between 1,000 and 10,000 ETH, have silently increased their reserves even when prices were around USD 1,800, which reflects a deliberate accumulation phase.

These addresses increased from 4,643 wallets in early December to 4,953 portfolios at present, which underlines a remarkable increase in conviction in unrealized losses.

Glassnode’s on-chain data illustrate that these whales are not limited to staying out, but are actively accumulating eth in anticipating the update results.

The constant increase in the offer in the hands of whales of 15.5 million ETH in March to 19.0 million ETH in early May emphasizes its disposition to absorb any volatility after the update.

Exchange reservations They have oscillated between 19.1 and 19.8 million eth until April, which reveals an awkward throws and loosen between the sale pressure and the accumulation trends.

Since November, there has been a rebound in the estimated leverage ratio, indicating that futures traders are positioning for a volatility event that traders usually call a liquidity strangulation.

In the event that the Hodlers are downloaded to cost base thresholds greater than USD 2,000, that same leverage could exacerbate the bearish spirals, turning the update into a catalyst for correction.

On the contrary, a sustained decrease in foreign exchange reserves after bifurcation would be a generalized sign of confidence and reduce systemic liquidity risks.

With coinbase and other important exchanges by pausing the deposits and withdrawals of ETH during the update window, access to the market will be briefly restricted, which could amplify the movements.

Therefore, operators must weigh the advantages of rates savings and the improvement of scalability against the risk of temporary network congestion or unforeseen protocol errors.

Historical precedents show that large bifurcations can produce sudden and short -term peaks in implicit volatility, and the pein scale makes it one of the most significant since the merger.

Ultimately, the fact that Ethereum approaches the mark of the 2,000 dollars or re -tests the area below $ 1,700 depends on the speed with which the network is stabilized after the update.

ETH prices analysis before the sicking update

Ether’s price action has formed a narrow consolidation range between USD 1,755 and USD 1,855, with EMA 100 and 200 lines converging towards a bullish crossing.

This compression of mobile socks and the narrowing of Bollinger bands indicate the potential of a decisive breakup once the sin code merges.

The schedule graphics show that the MACD wobbles in the bearish zone even when the RSI is just below the neutral line of 50, which suggests that the impulse remains finely balanced.

Meanwhile, the supply and demand areas tracked by Intotheblock reveal a heavier resistance wall between USD 1,805 and USD 1,857, with almost 5.85 million ETH, which the support area below.

Promises and sicking pitfalls

By doubling Blobs’s capacity per block of three to six, Pin promises significant relief for layer 2 and lower transaction rates for users in the chain.

With EIP-7702, the path for the abstraction of accounts, Ethereum wallets will obtain characteristics such as the sponsorship of gas rates and the processing due to transaction lots that could expand the generalized adoption.

In addition, the consolidation of the validator of EIP-7251, which raises the participation limit of 32 ETH to 2,048 ETH, offers institutional actors a more efficient entry point, but raises centralization concerns.

The transition to the EVM object format marks a subtle but critical improvement in the efficiency of the execution of contracts that will lay the basis for future protocol improvements.

As the clock progresses towards the pein activation slot on May 7, the fate of Ethereum lies in the delicate interaction of the fundamentals in the chain, the technical impulse and the health of the network.

In the event that whales, Hodlers and institutions remain firm, the update could turn on the fuse for a sustained rebound, fulfilling the long -awaited expectations.

However, if the price fails to overcome the key resistance or if the reserves increase again, traders can interpret as an exaggeration cycle instead of a structural catalyst.