Ethereum Price Stalls Near Resistance: Pectra Upgrade Lacks Price Momentum

Ethereum’s price has stalled below the $1,880 mark, facing resistance at crucial levels including the 0.618 Fibonacci retracement and its 50-day EMA. The recent Pectra upgrade, designed to boost Ethereum’s usability with features like improved staking tools and smarter wallets, hasn’t sparked significant price movement despite promises of enhanced functionality. Ethereum is currently trading around $1,769, awaiting direction from upcoming macroeconomic events, especially the May 7 FOMC meeting.