Key Points

• Ethereum's Glamsterdam upgrade will go live on Hoodi on October 26th.
• The upper limit on the test network gas will be increased to 200 million.
• ETH needs stronger buying pressure to have a chance of approaching $2800

As the upgrade preparations for Glamsterdam are activated on the test network of Hoodi on October 26th, Ethereum is approaching an important network milestone, which could bring new catalysts for investors. However, it remains difficult for ETH to establish a sustained rebound.

After a recent rebound near $2,330, the trading price of this cryptocurrency has been roughly in the range of $2,450 to $2,500. To rise to $2,800, it would need to increase by about 13% from the current level of $2,475. Therefore, the upcoming test is more of an event worth watching than an inevitable catalyst for a bullish trend.

Ethereum's upgrade on October 26 will bring a test involving 200 million gas.

According to the Ethereum Foundation, Glamsterdam will be activated on October 26th at UTC time 17:42:48, at epoch 132,352 hours on Hoodi.

This upgrade will increase the upper limit of gas for Hoodi to 200 million. It was previously successfully activated on Sepolia on October 6th.

Glamsterdam introduced the "proposer-builder separation" ( enshrined proposer-builder separation ), integrating key block construction arrangements directly into the Ethereum protocol. It also introduced a block-level access list, aimed at improving transaction processing and verification efficiency.

These changes support Ethereum's long-term scalability goals by making it easier for network participants to verify larger blocks.

Coinpaper Previously, it was reported that 200 million gas was a milestone, which was regarded as an important technical step rather than an immediate increase in the mainnet capacity.

The deployment on October 26th is still just a testnet event. Ethereum users will not automatically receive higher mainnet capacity on that day, and the foundation has not yet announced the final time for the production environment to go live.

While there is continuous selling of ETF, Ethereum prices face resistance.

Despite the approaching upgrade, Ethereum struggled to maintain its bullish momentum throughout October.

ETH recently fell to around $2,330 before rebounding above $2,400. Traders are now focusing on whether the range between $2,500 and $2,550 can become a support level.

Institutional activities remain another obstacle. Recent analysis by ETF shows that in October, Ethereum experienced a cumulative net outflow of approximately $1.08 billion. Coinpaper

Earlier on, BlackRock's Ethereum fund contributed significantly during a period of net outflows of $259.5 million, which highlighted the gap between network development and investor demand.

This round of selling pressure has also made the bullish predictions of institutions, such as the $5,000 target mentioned in previous Coinpaper reports, more complicated.

If Hoodi is successfully activated, it may enhance market confidence in Ethereum's roadmap, but this will not directly generate new demand for ETH.

Ethereum Price Prediction: Can ETH reach $2,800?

The bullish scenario requires ETH to recover to the range of $2,500 to $2,550 and to maintain daily closes above that area.

This will improve its prospects for moving towards $2,600; if trading volume increases and the net outflow of institutions slows down, it is possible to further rise to $2,800.

The latter is merely a conditional price target, and it is not an inevitable outcome after the activation of Glamsterdam.

Conversely, if ETH encounters resistance around $2,550 again, it could put Ethereum at risk of retesting $2,400. If it continues to fall below that level, the $2,300 region will be exposed.

Previous derivatives analysis pointed out that when key support levels are breached, leveraged positions can exacerbate price declines.

Ethereum has previously successfully launched on Fusaka, which also illustrates the importance of phased network upgrades, that is, testing and client coordination precede changes to the mainnet.