Ethereum Tackles $2,560 Resistance Ahead of Glamsterdam Upgrade
Ethereum is gearing up for a crucial test as it approaches its key resistance level of $2,560. The Glamsterdam upgrade, set to increase Ethereum's capacity and reduce congestion/fee spikes, has cleared an important private rehearsal ahead of the October 6 Sepolia testnet launch.
The test was successful, running under the new block-building rules with Nethermind completing 2,302 performance tests. Developers also tested a 200 million gas block limit versus roughly 60 million currently in the test environment.
In macroeconomic news, the Federal Reserve delivered a rate hike as expected and projected a less hawkish path for interest rates than previously priced. However, this initial overreaction was short-lived, with risk assets rallying after the market regained its senses.