ETH touched 2807 but quickly retreated to 2780: Upgrades bring capacity expansion—and also compatibility exam questions. I’m waiting for a pullback
I’m slightly bullish on the structure, but I won’t chase after this spike and pullback. The Ethereum Foundation has a reminder for Glamsterdam that’s easy for “capacity expansion” positive news to overshadow: EIP-8037 and 8038 plan to reprice gas used for state creation and state access, bringing fees closer to the actual resource cost of running on nodes. The Foundation replayed historical mainnet transactions under the new rules and found that most contracts aren’t affected, but a small number of contracts that rely on fixed gas assumptions may need higher gas limits; in very rare cases, even increasing the limit could still lead to failed execution. Programs that hard-code a 2300 gas transfer amount, fixed gas for external calls, branch logic that depends on gasleft(), or programs that use pre-signed transactions with a fixed gas limit are especially worth checking.
This doesn’t mean the mainnet repricing has changed today, and it also doesn’t mean all transaction fees will rise at the same time. The Foundation states that the repricing is currently running in development nets; the next step is to pass public testnets first. Contract teams can check affected addresses and reproduce it on the Platåberget testnet, and wallets and RPC services also need to update their gas estimations. Capacity expansion should make sure nodes can bear the sustained growth in state—not just raise the block gas limit while ignoring the resource costs. But if applications haven’t fixed those hard assumptions before the upgrade, localized transaction failures will become a real user-experience issue. For ETH’s mid-term network quality, this is an engineering progress worth tracking; for tonight’s coin price, it’s not a guaranteed ticket to profit.
OKX’s public ETH perpetual just touched $2806.96, currently around $2778.6. After the 15-minute surge with increased volume, the next candle falling back from around 2803 back into the 2780 area suggests兑现 above 2800. The 24-hour range is 2607—2807. Funding rate is about +0.0023%, with open interest around 610,400 ETH and a notional value of about $1.697 billion. A 02:51 old post asked for a stop-the-fall and recovery between 2740—2746 back to 2756; the first observation area 2768—2772 and the second observation area 2790—2810 were both later touched as well. This confirms the price path—not that I had real fills or profits. Since the target range has already been touched, I have to redraw my entry and invalidation lines.
If I were trading for myself, I’m currently at 0 positions waiting for confirmation. If 2766—2775 pulls back with shrinking volume and forms a stop-the-fall, and then the 15-minute chart reclaims around 2790, I would try a spot long using at most 2% of principal. First watch 2800—2807, then 2825—2840; at 2807 I cut one-third. If it falls back and drops 2765 by half, and if the 15-minute candle closes below 2752, I close everything. If price breaks above 2807 with volume directly without a pullback, I won’t chase. If 2800 is rejected again and price breaks below 2752 with volume, then fails on the retest near 2765, then I’d try a low-leverage short with at most 0.5% of principal, targeting 2738 and 2715, with a stop-loss if it reclaims above 2790. For the engineering upgrade, watch the testnet results and compatibility reports; for short-term trading, watch price action and retreat discipline—don’t mix the two.
$ETH
The above is only my personal market observation and does not constitute investment advice.
I’m slightly bullish on the structure, but I won’t chase after this spike and pullback. The Ethereum Foundation has a reminder for Glamsterdam that’s easy for “capacity expansion” positive news to overshadow: EIP-8037 and 8038 plan to reprice gas used for state creation and state access, bringing fees closer to the actual resource cost of running on nodes. The Foundation replayed historical mainnet transactions under the new rules and found that most contracts aren’t affected, but a small number of contracts that rely on fixed gas assumptions may need higher gas limits; in very rare cases, even increasing the limit could still lead to failed execution. Programs that hard-code a 2300 gas transfer amount, fixed gas for external calls, branch logic that depends on gasleft(), or programs that use pre-signed transactions with a fixed gas limit are especially worth checking.
This doesn’t mean the mainnet repricing has changed today, and it also doesn’t mean all transaction fees will rise at the same time. The Foundation states that the repricing is currently running in development nets; the next step is to pass public testnets first. Contract teams can check affected addresses and reproduce it on the Platåberget testnet, and wallets and RPC services also need to update their gas estimations. Capacity expansion should make sure nodes can bear the sustained growth in state—not just raise the block gas limit while ignoring the resource costs. But if applications haven’t fixed those hard assumptions before the upgrade, localized transaction failures will become a real user-experience issue. For ETH’s mid-term network quality, this is an engineering progress worth tracking; for tonight’s coin price, it’s not a guaranteed ticket to profit.
OKX’s public ETH perpetual just touched $2806.96, currently around $2778.6. After the 15-minute surge with increased volume, the next candle falling back from around 2803 back into the 2780 area suggests兑现 above 2800. The 24-hour range is 2607—2807. Funding rate is about +0.0023%, with open interest around 610,400 ETH and a notional value of about $1.697 billion. A 02:51 old post asked for a stop-the-fall and recovery between 2740—2746 back to 2756; the first observation area 2768—2772 and the second observation area 2790—2810 were both later touched as well. This confirms the price path—not that I had real fills or profits. Since the target range has already been touched, I have to redraw my entry and invalidation lines.
If I were trading for myself, I’m currently at 0 positions waiting for confirmation. If 2766—2775 pulls back with shrinking volume and forms a stop-the-fall, and then the 15-minute chart reclaims around 2790, I would try a spot long using at most 2% of principal. First watch 2800—2807, then 2825—2840; at 2807 I cut one-third. If it falls back and drops 2765 by half, and if the 15-minute candle closes below 2752, I close everything. If price breaks above 2807 with volume directly without a pullback, I won’t chase. If 2800 is rejected again and price breaks below 2752 with volume, then fails on the retest near 2765, then I’d try a low-leverage short with at most 0.5% of principal, targeting 2738 and 2715, with a stop-loss if it reclaims above 2790. For the engineering upgrade, watch the testnet results and compatibility reports; for short-term trading, watch price action and retreat discipline—don’t mix the two.
$ETH
The above is only my personal market observation and does not constitute investment advice.
