Ethereum Price Holds Above Key Levels Amid Protocol Upgrade

Ethereum's price is holding strong above its key moving averages, indicating an ongoing upward trend. Currently trading at $2,508, up 2.3% on the day, Ethereum is also rolling out EIP-8141, a protocol update that enables transactions to be split into 64 programmable frames and supports fee payments in non-ETH tokens.

The upgrade introduces native account abstraction and third-party gas sponsorship, increasing flexibility and broadening use cases. This development is fostering bullish sentiment and heightened demand for Ethereum, with the price expected to hold within a range of $2,459 to $2,550.

Technical indicators reinforce the bullish setup, with momentum indicators pointing to continued upward pressure. However, RSI stands at 65.39, indicating some overextension alongside persistent buyer dominance today.