ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
Coinspeaker
ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
As the Ethereum Pectra upgrade nears, crypto traders are keeping a close watch on the ETH-BTC pair, looking to ride the upcoming volatility in the making. As per the Bollinger Band patterns, the trading pair could experience significant volatility moving ahead.
Bollinger Bands are technical indicators that consist of two volatility bands set two standard deviations above and below an asset’s 20-day simple moving average. A Bollinger Band squeeze happens when the bands narrow closely around the price, indicating low volatility and a phase of consolidation.
This shows that the market is preparing for a big move, which could be in either direction, resulting in a major increase in volatility. Currently, the Bollinger Bands on the ETH-BTC chart are at their tightest levels since June 2020.
The squeeze suggests that Ether may soon see heightened volatility against Bitcoin. Traders closely monitor the price action to determine the breakout direction, as significant moves often align with the breakout’s trajectory.
ETH/BTC Bollinger Bands. Source: Trading View
All Eyes Are on Ethereum Pectra Upgrade
The upcoming Ethereum Pectra upgrade will enhance network scalability, raise validator staking limits, and improve overall blockchain efficiency.
Scheduled for May 7, the Ethereum Pectra upgrade will significantly raise the maximum staking limit for validators from 32 ETH to 2,048 ETH. It will also increase the number of “blob” data units per block from 3 to 6, with a maximum capacity of 9 blobs.
The upgrade will begin the transition to the EVM Object Format (EOF), a new framework designed to enhance smart contract performance and efficiency. According to blockchain analytics firm Nansen, these improvements mark a key step in Ethereum’s ongoing development.
“Layer-2 networks stand to benefit the most. By doubling blob capacity and making call data more expensive, Pectra solidifies blobs as the standard for rollup data posting. This reinforces Ethereum’s role as a data availability layer and strengthens its rollup-centric scaling strategy.”
The firm also stated that DeFi could also gain momentum while noting that NFTS and blockchain games would benefit from the overall advancements.
The Ethereum price has remained under strong selling pressure so far, slipping under $1,800 levels, while liquidations hit $67 million last week.
ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
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ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
Coinspeaker
ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
As the Ethereum Pectra upgrade nears, crypto traders are keeping a close watch on the ETH-BTC pair, looking to ride the upcoming volatility in the making. As per the Bollinger Band patterns, the trading pair could experience significant volatility moving ahead.
Bollinger Bands are technical indicators that consist of two volatility bands set two standard deviations above and below an asset’s 20-day simple moving average. A Bollinger Band squeeze happens when the bands narrow closely around the price, indicating low volatility and a phase of consolidation.
This shows that the market is preparing for a big move, which could be in either direction, resulting in a major increase in volatility. Currently, the Bollinger Bands on the ETH-BTC chart are at their tightest levels since June 2020.
The squeeze suggests that Ether may soon see heightened volatility against Bitcoin. Traders closely monitor the price action to determine the breakout direction, as significant moves often align with the breakout’s trajectory.
ETH/BTC Bollinger Bands. Source: Trading View
All Eyes Are on Ethereum Pectra Upgrade
The upcoming Ethereum Pectra upgrade will enhance network scalability, raise validator staking limits, and improve overall blockchain efficiency.
Scheduled for May 7, the Ethereum Pectra upgrade will significantly raise the maximum staking limit for validators from 32 ETH to 2,048 ETH. It will also increase the number of “blob” data units per block from 3 to 6, with a maximum capacity of 9 blobs.
The upgrade will begin the transition to the EVM Object Format (EOF), a new framework designed to enhance smart contract performance and efficiency. According to blockchain analytics firm Nansen, these improvements mark a key step in Ethereum’s ongoing development.
“Layer-2 networks stand to benefit the most. By doubling blob capacity and making call data more expensive, Pectra solidifies blobs as the standard for rollup data posting. This reinforces Ethereum’s role as a data availability layer and strengthens its rollup-centric scaling strategy.”
The firm also stated that DeFi could also gain momentum while noting that NFTS and blockchain games would benefit from the overall advancements.
The Ethereum price has remained under strong selling pressure so far, slipping under $1,800 levels, while liquidations hit $67 million last week.
ETH-BTC Pair Eyes Major Volatility Ahead of Ethereum Pectra Upgrade
Read More
Blackrock Dominates ETF Flows Again as Bitcoin and Ether Inflows Soar