According to CoinMeta, on August 5th, the price of Ethereum approached $1868, remaining below the downward trend line. The debate surrounding EIP-8361 has added new variables to the market outlook. Since the end of July, the price has failed to remain above $1900 on multiple occasions, and the psychological barrier of $2000 remains out of reach. The daily chart shows that ETH trades below the 20-day simple moving average ( SMA ), currently at $1887.53. The 100-day SMA has formed a resistance level at $1918.22, while the 200-day SMA is at $2074.86. Although ETH is still above the 50-day SMA ($1788.07), analysts Micha ël van de Poppe point out that $1780 is a key support level, and they expect a breakthrough above $2000 to make $2300 to $2500 within reach. The EIP-8361 proposal aims to gradually reduce the issuance volume at the consensus layer as the proportion of staked ETH increases, but it has not yet received approval for network upgrades.