Ethereum Price Prediction as Pectra Upgrade Announced for Q1 2025 – Can ETH Reach $10,000?
The Ethereum price has fallen by 1% in the past 24 hours, slipping to $3,808 on a day when the crypto market as a whole has scarcely moved.
ETH is now up by 2% in a week and by 27% in a month, with the market’s biggest altcoin also sitting on a 100% increase in the last 12 months.
And what’s exciting is that Ethereum is now looking forward to its highly anticipated Pectra upgrade, which some community members expect to arrive by Q1 2025.
Pectra will include multiple important improvements, and by adding to Ethereum’s pre-existing utility, it could help the ETH price climb substantially.
ETH has suffered a little in the past couple of days, yet it now seems ready to mount a short-term comeback.
This is evident in its RSI (purple), which declined to 30 late yesterday night but has since rebounded towards 50, with much more room for further ascents.
Complicating the picture, however, is ETH’s 30-day average (orange), which has been above the 200-day (blue) for well over a week.
This would suggest that a decline is on the cards, with the 30-day slipping in the past 24 hours.
Yet there are several reasons for believing that the Ethereum price will actually rise over the coming days, if not over the coming weeks.
For one, this month is likely to see the launch of the first few Ethereum ETFs, with several funds already submitting the forms they need to roll out their offerings.
The launch of ETFs will result in a big rise in volume and demand for the alt, thereby boosting its price.
On top of this, more details have emerged about the upcoming Petra update, with some experts suggesting a launch in the first quarter of next year.
Pectra, the next Ethereum network upgrade, is shaping up to be the biggest in Ethereum's history!
The confirmed
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