Since the announcement of the upcoming update, the price of Ethereum had been very volatile and it also had a lot more activities than Bitcoin but it still couldn't resist the bear so it always drops down after a little pump. The effect might only be a little pump but we shouldn't expect much because the market recovery phase isn't occurring yet.
That's because the price of bitcoin is still volatile and can't break the price higher so the price of ethereum can't start rising yet. But I believe that once the bear market is over and the bull market is back, it will make all the coins go high again and provide an opportunity for ethereum to rise high.
But even if it's a small pump, I think it's still valuable for some of us because we can still benefit from it.