Key Notes

Key Notes:

Analysts like Captain Faibik highlight $3,000 as a critical resistance level for Ethereum price, suggesting a reclaim could ignite an explosive rally.Hindi likened Ethereum’s current state to Bitcoin’s market before the introduction of spot ETFs, predicting institutional interest in adding ETH to portfolios.Ethereum developers have released software for the Pectra upgrade, set for mainnet launch in April.

Ethereum price ETH $2 770 24h volatility: 4.6% Market cap: $333.84 B Vol. 24h: $18.34 B has been subject to strong bearish sentiment and continues to trade under $3,000 with no relief rally in sight. Ed Hindi, the co-founder of Swiss investment firm Tyr Capital, noted that the market sentiment around Ethereum has touched rock bottom. However, he stated that this increases the chances of a reversal on the upside very likely.

“Ethereum has reached peak ‘bearishness’ and is now at a tipping point. Weak hands have been flushed out of the market,” said Hindi in a market report on Thursday, February 13. He compared the current Ethereum (ETH) market to Bitcoin BTC $96 656 24h volatility: 1.2% Market cap: $1.92 T Vol. 24h: $18.59 B before the launch of spot exchange-traded funds (ETFs) for cryptocurrency in the US in January 2024. Hindi expects that institutions holding Bitcoin will begin adding Ethereum to their portfolios.

On Thursday, Ethereum price rallied 3.5% moving past $2,750 levels on the news of 21Shares filing for staking on spot Ethereum ETF. This comes as the Donald Trump administration takes a more crypto-friendly approach with SEC Commissioner Hester Peirce also hinting at allowing this facility. Staking on spot Ethereum ETF will allow investors to earn more yield and returns over and above the Ethereum price appreciation.

However, the ETH gains have been short-lived as the bullish sentiment faded quickly thereafter. Ethereum price is still flirting around $2,700 waiting for some other catalyst to push it above $300K and beyond.

Popular crypto analyst Ali Martinez recently noted that Ethereum shows signs of potential rebound as the TD Sequential indicator signals a buy on the weekly chart.

#Ethereum $ETH is showing signs of a potential rebound as the TD Sequential indicator flashes a buy signal on the weekly chart! pic.twitter.com/fDs1PRvNOA

— Ali (@ali_charts) February 14, 2025

Similarly, crypto analyst Captain Faibik predicts Ethereum (ETH) is set for a major comeback, urging investors to accumulate before it’s too late. He highlights $3,000 as the key resistance level, stating that a reclaiming of this resistance could trigger an explosive rally.

Source: Captain Faibik

Ethereum developers have released the client software for the Pectra deployment on the Holesky and Sepolia testnets. The mainnet launch for Pectra will happen sometime in April.

But before the upgrade arrives on the mainnet developers will first implement it on the testnet to verify functionality and minimize risks to real assets. The upcoming upgrade will first undergo testing on Holesky on February 24, followed by Sepolia on March 5. These tests replicate network conditions, evaluate performance, ensure compatibility, and address any issues before the final rollout to the main network.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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