1) It increases block size 2) It stabilizes miner fees 3) It burns a portion of each miner fee to limit supply
The upgrade is widely expected to make Ethereum-based DeFi more attractive to investors. I'm thinking $2750 - 2850 is a likely target range on upgrade news.
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In classic "buy the rumor, sell the news" fashion, ETH climbed through August 2 and is selling off today. I'm thinking maybe retrace to 2350, then bounce.
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Resistance in 2850-2950 area. Expect at least a short-term pullback from that area.
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