Ethereum Prepares for Pectra Upgrade Launch: Will ETH Rise?

• Pectra in the final testing phase at Hoodi.
• Possible increased flexibility with fee payments in multiple cryptos.
• Potential rise in ETH price with positive market sentiment.

The Ethereum network is about to make history with the imminent implementation of the Pectra upgrade, which is currently in its final testing phase on the Hoodi testnet. This phase is crucial, being the third and final step before the possible implementation on the mainnet. Developers expect that, if everything goes as planned, the Pectra upgrade will be live within 30 days.

Hoodi Crucial Test Unlike previous tests on the Holesky and Sepolia networks, which presented technical challenges, the Hoodi test is seen as crucial. This environment has been specially prepared by Ethereum developers to ensure that any bugs are fixed and the network remains stable before the official launch of the update. Pectra aims to improve the user experience by allowing transaction fees to be paid in cryptocurrencies other than Ether (ETH), offering greater flexibility.

The Importance of Testnets Testnets like Hoodi are essential, functioning as simulation arenas for significant blockchain implementations. They allow developers to identify and fix bugs, as well as anticipate issues that could occur on the main network. After this phase, Pectra will be closely monitored for 30 days before its final implementation.

Will Ethereum go up?

Ethereum Price Outlook Ethereum’s price has been receiving additional attention as the upcoming upgrade approaches. Over the past week, ETH has seen a nearly 7% increase from a support level of $1.861, and is currently trading around $2.010, down 2.8%. If the uptrend continues, Ethereum could approach its recent peak of $2.250 seen on March 7. For this to happen, the Relative Strength Index (RSI) must break above the neutral level of 50.