Immediate support for ETH is identified at $1,818, with major support at $1,522 and resistance at $2,069, marking critical levels for potential price movements.

Currently, Ethereum (ETH) has seen a 3% decline to $2,000, reflecting potential bearish movements in the market.

Despite the positive developments from the Pectra upgrade, market sentiment remains mixed, as traders balance optimism against short-term bearish signals.

Technical indicators, including the RSI and moving averages, are currently signaling bearish sentiment, with ETH trading below its 50-day and 200-day moving averages.

This upgrade introduces several key features, including sponsored transactions, gas fee payments in ERC-20 tokens, transaction batching, wallet recovery enhancements, an increase in blobs per block, and expanded staking limits.

The Pectra upgrade was successfully launched on the Hoodi testnet on March 26, 2025, after resolving initial issues encountered on the Holesky and Sepolia testnets.

If the Hoodi testnet remains stable, the Pectra upgrade is anticipated to go live on the Ethereum mainnet by April 25, 2025, pending discussions in the upcoming Ethereum All Core Developers Consensus (ACDC) call.

Recent data revealed that ETH futures liquidations reached $50.97 million, primarily from long positions, indicating significant losses for bullish traders.

If ETH breaches the $1,818 support level, it could confirm a bearish flag pattern, leading to further price declines.

Nevertheless, the long-term fundamentals for Ethereum remain strong due to ongoing network upgrades and increasing institutional interest, despite the immediate market volatility.