Nixse
0

Ethereum support at $ 2700

Ethereum has started new growth from the $ 2,500 support zone against the US dollar. The price of ETH is rising, and it will probably accelerate even more if it breaks $ 2,900. After retesting the key $ 2,500 support zone, Ethereum began new growth above the $ 2,650 resistance zone. ETH gained positive vibes above the $ 2,700 and $ 2,750 levels. Most major altcoins show positive signs. ETH has risen 4%, and bulls appear to be aiming for a turnaround above $ 2,800. Ethereum network fees have fallen to their lowest level this year, while crypto markets continue to consolidate.
One of the rare market advantages in the declining trend is the decline in demand for Ethereum and the resulting decline in gas charges.
According to BitInfoCharts, the average fee for Ethereum online transactions has dropped to $ 3.70 – the lowest level since the end last year. The gas drop comes less than a month after average transaction fees reached a high of $ 70. That happened on May 12, which coincided with the peak of ETH of 4,300 US dollars.
Gas prices are curently at the lowest level recorded in 2021, but they are still more than 500% higher than they were last year. Average transaction fees were around $ 0.60 in June 2020. These prices are now still too high for the average user, who is likely to have to deal with significantly lower amounts. Many users are switched to alternative platforms such as Polygon, Binance Smart Chain, and Flamingo Finance. Ethereum prices could have had an impact on the price of gas as they are still consolidating. ETH ranged between $ 2,550 and $ 2,850 this month.
ethereum
Looking at the chart, we see a break above 38.2% Fibonacci level at $ 2740, and now we can hope to see a continuation of price growth to 50.0% Fibonacci level at $ 3055. A place that matches the moving average of the MA200. But first, we need ETH to surpass the price at $ 2900. The MACD indicator with its bullish signal gives us support for further growth of the price of Ethereum.

  • Support
  • Platform
  • Spread
  • Trading Instrument
User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending


You might also like

Leave a Reply