Ethereum Holds Above $1800 as Development Focus Shifts Post-EOF Removal
Holding $1,800 level, Ethereum (ETH) is shown resilience in face of market instability. Though still down 45%, the cryptocurrency has gained
Quick overview
- Ethereum (ETH) has shown resilience by holding the $1,800 level despite being down 45% from its peak, recovering nearly 30% from April lows.
- The Ethereum Foundation has removed the controversial EOF upgrade from its roadmap, shifting focus to the PeerDAS scaling solution.
- A significant leadership restructuring has been announced, prioritizing Layer 1 and Layer 2 scaling and enhancing user experience over the next year.
- Upcoming catalysts, including the Pectra upgrade on May 7 and potential macroeconomic factors, could influence Ethereum's price trajectory.
Holding $1,800 level, Ethereum (ETH) is shown resilience in face of market instability. Though still down 45%, the cryptocurrency ETH/USD has recovered almost 30% from April lows close to $1,386.
EOF taken out of Fusaka as Development Focus Changes
On April 28, the Ethereum Foundation declared that the contentious EVM Object Format (EOF) upgrade had been taken off of the forthcoming Fusaka hard fork set for Q3–Q4 2025. Tim Beiko, a developer of Ethereum core technologies, mentioned “technical uncertainty” and worries regarding possible delays in the general schedule.
Reflecting the controversial character of the idea, the conclusion came following an unparalleled Ethereum Interop Testing call with over 100 participants. “We don’t agree, and we’re not coming to an agreement about EOF anymore, and so it has to go,” Geth developer Marius van der Wijden said.
With EOF no longer in the roadmap, development efforts will prioritize PeerDAS (Peer Data Availability Sampling), a critical scaling solution. The Ethereum Foundation has emphasized that “the cost of shipping the wrong thing is much higher than the cost of delaying.”
Foundation Restructures Leadership System
Concurrent with these technological changes, the Ethereum Foundation revealed a significant leadership overhaul on April 28. With Ethereum co-founder Vitalik Buterin, Foundation President Aya Miyaguchi, Swiss attorney Patrick Storchenegger, and Hsiao-Wei Wang and Tomasz K. Stańczak named as co-executive directors effective immediately, the company has a board.
The reorganizing creates three top priorities for the following twelve months:
- Layer 1 Ethereum scaling
- Layer 2 level scaling blobs
- Enhancing general user experience
ETH/USD Technical Analysis
Technical indicators present a somewhat hopeful picture. With the hourly MACD indicating rising positive momentum, ETH is trading above both the $1,770 mark and the 100-hourly Simple Moving Average. Secondary resistance comes at $1,850; immediate resistance is $1,820.
A good break above these points might drive prices toward $1,920 and maybe the psychological $2,000 milestone. Failure to keep support at $1,770, however, might set off drops toward $1,650.
Ethereum Price Outlook for 2025
The most recent research from Fidelity Digital Assets shows several short and medium-term Ethereum forecasts. Declining technical signals—including a death cross pattern developed in early March—cause the pessimistic short-term view. With Ethereum’s MVRV Z-Score falling into the “undervalued” zone—historically linked with accumulation phases—valuation measures indicate an opportunity, nonetheless.
Layer 2 transaction volumes dropped 11%, so on-chain activity exhibited only slight decreases in Q1. A key near-term trigger is the forthcoming Pectra update set for May 7, which will increase blob capacity.
Near-Term Catalysts
Different possible catalysts could affect Ethereum’s price path:
- Pectra Upgrade (May 7): This upcoming version offers scalability gains meant to increase network activity and sentiment.
- PeerDAS Development: As more attention is paid when the EOF is removed, advancement of this scaling solution could rebuild Ethereum’s roadmap’s confidence.
- Macro Factors: Later this year possible Federal Reserve rate reduction might benefit risk assets—including cryptocurrencies—more broadly.
If Ethereum can prove consistent support over $1,800, it seems positioned for a possible test above $2,000. Key indicators of the undervaluation of the cryptocurrency lead to an appealing entrance point for long-term investors despite temporary technical flaws that imply prudence in the foreseeable future.
The trajectory of the second-largest cryptocurrency may prove crucial over the next few weeks as Ethereum approaches its major Pectra update on May 7.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals