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Highlights of the storyAs the current trading settings continue to flicker with huge bullish signals, Ethereum prices seem to have implanted extreme bullish momentum.Verifiers continue to withdraw their holdings of assets, which may raise concerns about the upcoming rise in ETH prices

After the upgrade of Shanghai and Capella (collectively known as Shapella), Ethereum (ETH) cancelled its pledge for the first time since its launch in December 2020. Its price exceeded the psychological threshold of $2000 and remained stable, allowing investors to try to measure its future trendFor this reason, some cryptocurrency traders useBlockchain Center's EthernetFang Caihong's price chart tracks the historical trend of digital assets relative to various moving averages (MAs), which may help identify certain trends and enable people to make investment decisions

Simply putETH has cleared the psychological barrier of $2000.Nearly $500 million in ETH has been withdrawn

Ethereum prices show bearish signs below $1920 against the US dollar. If the support area of $1800 is cleared, ETH may continue to decline

Ethereum prices have been in the range of $1800 to $1900 over the past week.The decrease in whale activity and the flat foreign exchange balance indicate a contemplative mood among ETH traders

As Bitcoin and Ethereum continue to dominate the cryptocurrency market, traders and investors are closely monitoring their price trends. Over the weekend, Bitcoin and Ethereum have been trading within a narrow range, causing some concerns among traders

Ethereum prices have risen above the resistance level of $1850 against the US dollar.ETH prices are currently trading above $1850 and 55 simple moving averages (4 hours)

After the current overall market adjustment, Ethereum experienced a reversal in the middle of the week. This correction was accompanied by a sharp drop near $1900 and has remained calm since then

Recently, Ethereum has completed its "Shanghai upgrade", with ETH breaking through the $2000 barrier. The surrounding ecosystem of Ethereum Layer-2 has also been hyped, especially after the Airborne drop of Orbitrum, a large amount of funds have poured into the Layer-2 track, which is exceptionally popular.In the past week, the number of transactions on the Ethereum main network was 7.296 million, while the total number of transactions on Layer-2 was 19.469 million, of which Orbitrum alone accounted for 10.405 million transactions, more than half. That is to say, the number of transactions on the L2 track is more than twice that of Ethereum, and the number of transactions for a project on the Arbitrum (10.405 million) is significantly higher than the number of transactions on the Ethereum main network (7.296 million).We know that Layer-2 is the ecological construction layer of Ethereum, and in the future, most of the ecology will migrate. Therefore, it is expected that the prosperity of L2 in the future will surpass that of Ethereum's main network. The ecological explosion of Layer-2 in the future can also be expected.However, after observing ETH's on chain data, it is believed that in terms of price alone, ETH still has some hidden concerns in the long termShort term ETH prices have little impact and remain a hot topic in the marketThe ecological explosion in Layer-2 has resulted in minimal gas consumption. In the past week, the destruction of Ethereum gas was 19818, while the destruction of Arbitrum was only 632, accounting for 3.2%.It should be noted that Arbitrum has been heavily hyped recently, with an on chain activity of 140% compared to Ethereum, but gas accounts for only 3.2%, and other Layer-2 public chains are even lower.It cannot be denied that the surge in ETH from 2020 to 2021 and the decrease in supply have had a significant impact. The ETH2.0 beacon chain has successively pledged over 10 million ETHs, and the EIP1559 agreement has destroyed over 3 million ETHs. After the official conversion of ETH to the POS mechanism in September 2022, the supply decreased by 90%, resulting in deflation since the launch of ETH2.0.All of the above have led to ETH's strength in the secondary market.Layer-2 is one of the future competition tracks and the core battlefield of the Ethereum ecosystem, but it is still mainly hyped, and in this case, gas only accounts for about 5% of the total ETH consumption. However, it is difficult for the ecosystem around Ethereum to grow explosively in a short period of time, as the core applications are still defi, NFT, stable currency, etc., with less demand.The current gas model of Ethereum is still the same as before the ETH2.0 upgrade. The next upgrade is the "Cancun Upgrade", which focuses on significantly reducing transaction fees. V God once said that when Ethereum matures, gas will decrease by 99%. Now, Ethereum processes over 1 million transactions per day. If we want to maintain gas consumption, the number of transactions will need to exceed 100 million.Weinao believes that this will take a relatively long time to achieve, soAfter the hype of "Little Spring" in 2023 is completed, there may still be some pressure on the prices in the ETH secondary market before the next bull market arrives.

The trading price of Ethereum was $1793.48 (release time), with an increase of 3

In the past 24 hours, the price of Etalum, the second largest secretive company, has skyrocketed by 7% as its network has successfully completed the highly anticipated Shanghai hard fork. However, upgrades enable network participants to recover their bet funds

After the upgrade of Ethereum Shanghai, ETH prices continued to rise, even exceeding the level of $2000. The fresh liquidity in the market has caused a significant increase in trading volume, but experts believe that some corrections are needed before ETH prices begin to rise again