Crypto investors have had a rollercoaster ride lately, with Ether’s latest drop breaking a key uptrend that had been in play since the start of the year. However, with US stock prices surging last week and the upcoming Shapella hard fork on the Ethereum network, there may be positive momentum on the horizon for Ether.
The Shapella hard fork will set the stage for an upgrade to the mainnet in March, allowing for staked ETH withdrawals, which could result in more ETH investors staking their tokens. This could lead to a greater proportion of the supply getting locked up, boosting scarcity and prices.
While there may be short-term sell pressure as investors cash in on their withdrawn ETH and earnings, most suspect it will be a long-term positive driver. However, in the immediate future, risks remain tilted towards a potential test of February lows in the $1,460 area.