Ethereum's price is US$1900, and Glamestead's upgrade has achieved a major breakthrough

Key points:

Ethereum (ETH) prices could face a critical test of $2500 or fall to $1900, and traders are focusing on the long-term moving average.

Prior to the August 20 fork, Glamstam testing was launched on the Plataberget Test Network.

The historical activity of Ethereum stablecoin transfers has exceeded US$70 trillion.

Ethereum price forecasts have attracted attention as the Ethereum Foundation begins testing the Glamsburg upgrade. The Plataberget testnet is now online with a fork scheduled for August 20, and developers are preparing for broader testing before it will be released on the main network.

However, the technical levels and potential price targets presented in this article are for reference only. They are based on technical analysis and do not guarantee future performance. Due to the high volatility of cryptocurrencies, investors should exercise caution, conduct appropriate due diligence, and consult financial professionals when necessary.

Glamstam testing progresses

The Ethereum Foundation has begun testing Glamstam upgrades on the Plataberget Test Network, an important step before planned changes reach the Ethereum main network. The testnet fork is scheduled for August 20, providing developers with an early environment to test the effectiveness of upgrades before entering broader testing.

This upgrade is important for Ethereum prices, as Glamestead is expected to bring changes to multiple parts of the network, including Gas pricing, block production structure, transaction capacity and smart contract limitations.

However, the current testing should not be considered a mainnet launch. Plataberget is an early testing phase. The upgrade still requires a broader test network before considering applying it to the Ethereum main network.

This means that the current focus is not only on the changes themselves, but also on the performance of the tests. If the process goes as planned, developers will get more information about how Glamestead handles the proposed changes before making any mainnet decisions.

The Ethereum Foundation's work has thus added a new development point to the ETH cryptocurrency market, although traders are still paying close attention to prices.

Ethereum price forecast faces $1900 retest

Ethereum price forecast is also affected by key levels around $2500. Ted Pillows, a market commentator with 312,000 followers on the X platform, said a weekly close above $2500 would confirm that in his view the ETH bear market is over.

According to the post, such a trend will also allow Ethereum to regain its 200-week simple moving average and 200-week exponential moving average. These are long-term indicators that traders often look at when judging the broader direction of assets.

The view is that once the ETH price closes weekly above this level, the risk of the token falling to a new low will be reduced. This makes $2500 the heart of current price discussions.

At the same time, the main trend suggests that if ETH fails to hold on to current levels, it may retest $1900. Existing information does not confirm that such a decline will occur, but as traders weigh market forces, the level remains important for Ethereum prices.

For the ETH cryptocurrency market, the contrast is obvious. A breakthrough of $2500 could improve long-term prospects, while weakness could bring lower price levels back into focus.

The Ethereum Foundation upgrade encounters strong on-chain activity

In addition to the Ethereum (ETH) price trend, online activities have also attracted attention. Ethereum's historical stablecoin transfers have exceeded US$70 trillion, and the data comes from Token Terminal. This figure highlights the role Ethereum continues to play in on-chain finance. Stablecoins are widely used to transfer value between blockchain networks, and the transaction volume recorded on Ethereum shows the scale of activity taking place on the network.

This brings another point of interest to the Glamestead testing process. The Ethereum Foundation is making changes and improvements to a network that already handles a lot of on-chain activity.

However, the upgrade is still in testing. The Plataberget fork on August 20 is the next important step mentioned in the available information, followed by broader testnet work before entering the main net.

Currently, both aspects of the Ethereum story remain in focus. The Ethereum Foundation is pushing GlamAmsterdam to pass the test, and Ethereum price forecasts depend largely on whether ETH can regain important long-term levels or face another round of tests close to $1900.