Ethereum Pectra Upgrade Will Be Completed, ETH Price Predicted to Rise!

Bittime - Ethereum continues to develop with various updates to improve the scalability and efficiency of its network. One of the most anticipated improvements is Pectra, which is currently entering the final stages of testing. 

This update is expected to bring various new features that can improve user experience and Ethereum's competitiveness in the crypto market. 

With the official launch approaching, a big question arises: will the price of ETH see a spike?

Ethereum Pectra Upgrade Final Trial

Ethereum is getting closer to a major update with Pectra which is now entering the final testing phase on the Hoodi testnet. This step is decisive before the official update is implemented on the Ethereum main network. 

If this trial is successful, implementation of Pectra can be carried out within the next 30 days. Many analysts predict that this success could trigger a surge in the price of Ethereum (ETH).

Read also: When is the Best Time to Buy Ethereum (ETH)? This is the Complete Analysis

Why is the Hoodi Testnet so important?

Hoodi is the third testnet to run Pectra trials after Holesky and Sepolia experienced technical problems. Ethereum developers created Hoodi as a final testing platform to ensure that all bugs were fixed and the network could run smoothly.

The Pectra update itself aims to improve the user experience by bringing a smart contract feature to the Ethereum wallet. 

One of the biggest changes is the possibility for users to pay transaction fees using various types of cryptocurrencies other than Ether (ETH), which will make transactions more flexible and accessible.

Testnet's Role in Ethereum's Success

Testnets like Hoodi serve as test environments before new features are implemented on the Ethereum mainnet. This way, developers can detect and fix potential technical issues before updates are officially released.

If testing on Hoodi goes well, the Pectra update will be monitored for 30 days before rolling out to the main network. This period will be determining whether the update can be implemented without a hitch.

Read also: Ethereum Confirms It Will Split Pectra Hard Fork Into Two Parts

How Does It Impact Ethereum Price?

Amid attention to this update, Ethereum price also experienced significant movement. Last week, ETH saw a rise of nearly 7% from the support level of $1,861 and is currently trading around $2,025.

Source: Market Endtime

If this positive trend continues, Ethereum has the potential to reach its peak again on March 7 at $2,258. However, for this scenario to occur, technical indicators such as the Relative Strength Index (RSI) would need to break 50 to confirm bullish momentum.

Market sentiment also showed increased optimism, with Ethereum's long/short ratio reaching 1.2287, meaning buy positions dominate over sell positions by up to 55%. This indicates strong buying interest, which has the potential to maintain the upward trend in ETH prices.

Conclusion

With final testing of Pectra underway on the Hoodi testnet, Ethereum is getting closer to one of its most anticipated updates. If this launch is successful, in addition to increasing network efficiency, it will likely also push the price of ETH higher. 

For investors and the Ethereum community, all eyes are on the test results in the next few weeks, which could be a determining factor in the next price movement.

FAQ 

1. What is Pectra update in Ethereum? 

Pectra is Ethereum's latest update that aims to improve the user experience with new features such as paying transaction fees using various cryptocurrencies other than ETH as well as improving network efficiency.

2. When will Pectra be officially launched? 

If testing on the Hoodi testnet goes smoothly, the Pectra update could be released within the next 30 days, depending on the final testing and evaluation results from Ethereum developers.

3. How will Pectra impact the price of Ethereum? 

Many analysts believe that the successful launch of Pectra could increase the market's confidence in Ethereum, potentially pushing the price of ETH up. However, other factors such as market conditions and user adoption also play an important role in price movements.

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Reference

Mustafa Mulia, Ethereum’s Pectra Upgrade Enters Final Testing Phase – Will ETH Price Pump?, accessed March 27, 2025

Author: SD