Ethereum Analysis – Vitalik’s Gas Cap Proposal Adds Pressure

semalam

Today, I want to show you the possible moves for Ethereum(ETHUSDT) this week.

Please stay with me.

Let’s first take a look at the important news that has come for Ethereum in the last 24 hours:

Ethereum’s Gas Cap Proposal Sparks Concerns

Ethereum co-founder Vitalik Buterin recently proposed EIP-7983, introducing a gas limit cap to prevent potential DoS (Denial of Service) attacks on the network.

Bearish Takeaways:

This proposal reveals a current vulnerability in Ethereum’s infrastructure. If gas limits grow unchecked, nodes may fail to sync, leading to possible network instability.

Imposing a gas cap could temporarily reduce transaction throughput, affecting DeFi protocols and NFT platforms that rely on Ethereum’s scalability.

The market tends to react cautiously to core protocol changes, and this uncertainty could trigger short-term selling pressure.

Bullish Counterpoints:

The cap aims to strengthen the network’s long-term stability against spam and DoS attacks.

It’s still in the proposal stage, with no immediate impact on users or network performance.

Conclusion:

While the long-term impact may be positive, the short-term uncertainty and exposed risks provide a bearish narrative for Ethereum, especially amid growing competition from alternative chains.
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Now let's take a look at the Ethereum chart on the 4-hour time frame.

Ethereum is currently trading near the Heavy Resistance zone($2,929-$2,652) and Resistance lines, and is also trying to break the Support line.

In terms of the Elliott Wave theory, it seems that Ethereum has completed the Zigzag Correction(ABC/5-3-5), so we can expect the next bearish wave.

I expect Ethereum to fall to at least $2,433 AFTER breaking the Support line, and if the Support zone($2,491-$2,323) is broken, we should expect further declines.

Second Target: $2,374

Note: Stop Loss (SL) = $2,689= Worst Stop Loss(SL)

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Ethereum Analyze (ETHUSDT), 4-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

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