Ethereum Price Faces Pressure Amid Geopolitical Tensions
- Ethereum price fell below $1,800, experiencing a 2.4% daily and 2.3% weekly decline.
- A Golden Cross has persisted for seven days, with the price remaining above the 50-day SMA of $1,779.
- The Pectra Upgrade is set for May 7, introducing significant changes like EIP-7702 for account abstraction.
- Geopolitical tensions in South Asia have contributed to market instability and risk-off sentiment.
- Coinbase temporarily suspended ETH transactions during the network transition to ensure user safety.
Despite Ethereum’s upcoming Pectra Upgrade aimed at enhancing scalability and functionality, its price dipped below $1,800 due to geopolitical tensions and liquidity concerns. The sustained Golden Cross suggests potential bullish momentum if the price remains above key support levels.
Source (2.6)https://coingape.com/markets/will-7-day-golden-cross-trigger-another-eth-price-rally/?rand=24432
