After Experiencing Two Failed Test Runs of Its Pectra Upgrade

After experiencing two failed test runs of its Pectra Upgrade

After experiencing two failed test runs of its Pectra Upgrade via the Holesky and Sepolia testnets, the Ethereum (ETH) team is now creating a third platform called Hoodi. This new testnet is set to roll out on March 17th. As crypto observers await this test, they’re also keeping an eye on whether ETH can regain its previous $4,000 all-time high.

But in other news, a new altcoin, JetBolt (JBOLT), continues to impress, especially among crypto whales, with its latest presale achievement—selling over 340 million tokens since its debut. This startup offers zero-gas technology and an easy-to-use Web3 wallet, garnering considerable interest across the broader market.

Can ETH reverse its bearish trend, or will it keep dipping? What’s behind JetBolt’s surging presale momentum? Let’s find out.

Ethereum Price Prediction: Will it Get Back to $4k?

At the time of writing, Ethereum is trading at $1,894.96, showing a 13.2% decrease over the last week and 27.2% over the last month. Despite the dips, ETH increased by 1.3% in the last 24 hours.

As the crypto community anticipates the Pectra Upgrade’s upcoming test run on the new Hoodi testnet, can Ethereum climb back to $4,000?

According to ETH’s technical indicators, the token is currently bearish, with most of its moving averages (MA) in a downward trajectory or sell action.

If we analyze the last 30 days of trading on the 100-MA, we can see that the price is consistently below the MA, indicating a strong downward trend. The 200-MA also shows a sell signal as the price is lower than the MA.

However, if we look at the 50-MA, we can see that the price is currently above the MA, which may be a sign that the selling pressure is decreasing and the token’s value is increasing.

According to analysts, Ethereum's recovery depends on it holding above the $1,825 key support. If the price drops below this level, it could continue decreasing to the next Fib level of $1,744.87, which is the 0.382 Fib.

Furthermore, Ethereum needs to overcome its first resistance at $1901.91, to move forward to the next level at $1902.85, which is the Fib 0.236.

Chart illustrating Ethereum (ETH)’s price declining in the last thirty days, according to CoinGecko.

Earlier this December, during the recent presidential elections, Ethereum reached a high of $4,141.99. This price was also attributed to the crypto community’s anticipation of the approval of ETH’s exchange-traded fund (ETF).

After two failed test runs of its Pectra Upgrade on the Holesky and Sepolia testnets, the development team is still trying to fix the issues. The third test run on the new Hoodi testnet will be for a temporary period of time.

This testnet is set to last for a month, beginning on March 17th. After the testnet is complete, the Pectra Upgrade will be deployed on the mainnet.

Despite these efforts, analysts aren’t sure if this will help propel ETH towards its $4,000 target. Only time will tell if Ethereum can recover from its bearish trend and reach new highs.

JetBolt (JBOLT) Presale Sells Nearly 345 Million Tokens

While we keep an eye on whether ETH can perform a remarkable comeback, another cryptocurrency is making headlines with its staggering presale figures.

JetBolt (JBOLT), a new altcoin, has managed to sell nearly 345 million tokens since the launch of its presale. This achievement is especially noteworthy considering the fierce competition in the crypto market and the fact that JetBolt is a young startup.

The token is powered by the ultramodern Skale blockchain, which offers zero-gas technology, eliminating the high gas fees usually associated with blockchain transactions.

Moreover, JetBolt transactions are completed with lightning speed and nearly instant finality, ensuring that all transactions on JetBolt’s platform are quickly processed and immutable.

This technology is a major advantage for traders and crypto enthusiasts who are tired of slow and expensive transactions.

Apart from zero-gas technology, JetBolt’s Web3 wallet features another reason crypto enthusiasts are excited about this young token. This modular and easily customizable wallet is designed with facial recognition technology that makes logins and token management simple and straightforward for token holders.

In addition to its technological innovations, Jet