Ethereum News: Ethereum’s Pectra Upgrade on May 7 to Boost Staking Limit to 2,048 ETH

In the latest Ethereum updates, developers have officially scheduled Ethereum’s Pectra upgrade for May 7, 2025, marking a major milestone in the blockchain’s evolution. The announcement was made during a core developers’ call on April 3. This update comes a month after the Pectra was launched on the Hoodi testnet.

Ethereum’s Pectra upgrade will merge the Pragua and Electra updates into a single, comprehensive overhaul of Ethereum’s execution and consensus layers. It also introduces 11 Ethereum Improvement Proposals (EIPs) to enhance network efficiency and user experience. One of the key changes, EIP-7251, raises the staking limit from 32 ETH to 2,048 ETH. This change is expected to optimize operations by reducing validator supervision while improving staking capabilities. 

New Update to Offer Better Support L2s

Another upcoming feature is the EIP-7702, which improves account abstraction. The upgrade achieves this by allowing addresses to function as smart contracts during transactions. The update also makes it easier to access decentralized applications (dApps) and boosts wallet utility through various innovations like bundled transactions and sponsored transactions. To add to that, EIP-7691 increases the maximum blob count to improve scalability, optimizing Layer-2 solutions such as Arbitrum and Scroll. The upgrade also stresses improving gas efficiency within the Ethereum Virtual Machine (EVM). This makes operations on the blockchain cheaper and faster. Developers will also benefit from streamlined contract management and lower gas fees, thus encouraging innovation in the ETH ecosystem. 

For now, May 7 is the target date for Ethereum’s Pectra upgrade, but the devs have also noted that timelines could shift should any circumstances occur. The additional time will allow clients and stakeholders to ensure a smooth experience as Pectra gets released. The Ethereum community is highly anticipating this major upgrade. The upgrade is bound to make Ethereum stronger by addressing scalability challenges across decentralized finance. With the market watching Ethereum updates closely, let’s take a look at the price analysis of the last 24 hours and form an appropriate ETH price prediction for today. 

ETH Price Analysis of Last 24 Hours: ETH Recovers Post Liberation Day Shock

ETH started at $1,790 yesterday. The golden cross from the previous day helped Ethereum start on a positive note, pushing it up to $1,833 by 3:20 UTC. But soon, Ethereum faced strong resistance at the $1,835 mark. ETH was able to find support quickly at $1,819. The EMAs fluctuated rapidly, and ETH followed suit, spiking $1,842. A death cross followed closely, and ETH fell, going beyond the support levels to $1,808. With the market oversold, ETH soon faced a reversal and started climbing again. ETH’s attempts at the $1,823 resistance were unsuccessful, leading it to slump significantly to the $1,757 support. 

Chart 1: analyzed by raodevansh18, published on TradingView, April 4, 2025

The RSI reported oversold levels at this point, and the trend reversed again. ETH oscillated between the new support and the $1,790 resistance. At 15:10, ETH tested the resistance again, but failed again. A price correction occurred, but the buying pressure led ETH to keep pressing upward, pushing it to $1,822 by midnight. On April 4, ETH faced a little correction early on, falling to $1,783. Since then, it has been climbing again, venturing close to the $1,823 resistance. 

ETH Price Prediction: Will ETH Continue to Bear Positive News Today?

ETH faced the brunt of the market crash on Liberation Day, but has found stability way faster than other mainstream cryptos. For now, ETH looks set to break the $1,823 resistance. But a reversal is bound to befall Ethereum soon. It will be key for ETH to hold on to the support; if it be able to do so, we may see ETH breaking over $1,850 today and possibly reaching $1,900.