Ethereum (ETH) is showing strength by testing the significant $1,600 price level after recent market volatility. Network upgrades like Pectra (May) and Fusaka (late 2025), promise to improve ETH scalability and utility, underpinning a bullish outlook for its price. However, whales have recently sold off a substantial amount of Ethereum (~$229 million), suggesting caution amongst major players. 143,000 #Ethereum $ETH was dumped last week by large investors, according to Ali (@ali_charts). Despite a drop of nearly 15% in the past month, ETH currently trades at $1,606.74, up nearly 2% over the past 24 hours, according to CoinMarketCap data. The upcoming Pectra and Fusaka upgrades have traders hoping ETH can break above the $2,000 mark. This article provides a deeper look into the price dynamics of Ethereum.