Ethereum Price Surges on Technical Momentum and Regulatory Progress

Ethereum's price has been on an upward trend, currently sitting at $2,756.58, up 2.76% from yesterday.

This momentum is supported by the activation of the Glamsterdam upgrade on Sepolia testnet, which allows validators to test a 200 million gas preference and signals ongoing innovation in the protocol.

The developers have also withdrawn the EIP-8363 staking reward burn proposal from the upcoming Hegota upgrade following community feedback, and the SEC has proposed more flexible institutional custody rules for Ethereum.

Technical analysis suggests that ETH/USD is expected to consolidate within a range of $2,683 to $2,764 over the next 2-3 trading days, with a high probability of an upward move. If it breaks above $2,764, an extension of the current uptrend becomes likely.