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Ethereum Stalls Below $1,880 as Pectra Upgrade Faces Market Caution

Despite the rollout of the highly anticipated Pectra upgrade, Ethereum struggles to break above $1,880—capped by the 0.618 Fib and 50-day EMA.

ETH is currently trading around $1,769, with traders eyeing both macro signals and the May 7 FOMC meeting for the next major move.

Key points:

Pectra upgrade enhances usability: smarter wallets, better staking, and cheaper storage.

Market reaction has been muted—suggesting macro > tech upgrades right now.