ETHEREUM gas fees fell to its lowest level in two years: Will ETH reach 4 thousand dollars after that?
Ethereum price has regained $ 2,619 for $ 2,728 trading.
By the way, the ETH price has jumped more than a percentage during the past 24 hours.
The gains come amid a rise in daily size, as it shows data showing the volume of global trading on the ETHEREUM network 20 billion dollars.
While ETH is still less than a level of $ 3,000 and may suffer from a declining face if the sellers are watching quick profits, there are a number of stimuli and indicators that indicate that the bulls can yet have a bullish running.
What is the rise of the price of ETH?
The high flow of funds circulating in immediate exchange is one of these factors.
If the institutional demand returns, the next few months may be interesting for Ethereum price.
For example, Eter ETF Spot in Fidelity 1,680 ETH on February 18.
For all sosovalue dataETH ETFS has seen $ 4.60 million infloves to register a third consecutive day of positive flows.
Pectra upgrade from Ethereum, which was identified for Testnet in February and March, and MainNet Magazine in April, is a potential factor of momentum.
However, the short -term incentive for bulls can be a significant decrease in ETH gas.
According to the Market Intelligence Santiment platform, ETHEREM gas fees fell to its lowest level in two years.
The fees amounted to $ 0.41, compared to $ 15.21 at its peak in the past two years.
A scenario beating new entry by retail buyers.
“When users do not pay high prices to move ETH or distinctive symbols, this is usually a good sign of medium -term and long -term price expectations.” Published on x.
ETH bulls?
ETHEREUM fees often decrease when the original code value decreases.
What happens is that while investors take a declining perspective, they go out.
But the low gas fees that attract buyers to the network.
The opposite is the high fees – it is often the result of the upcoming market conditions that mean the highest network activity.
Often, high network fees are the result of distinguished activity as more users scramble to trade or benefit from ETHEREM applications.
“Just as very high fees can drive to push merchants away or cause short -term corrections, very low fees (as we see now) will motivate users often and allow the network tool to rise to a prosperous rate.” .
ETH price and the possibility of a new rise at all
ETHEREUM was the highest level ever at $ 4,891 on November 16, 2021-more than three years ago.
While ETH managed to reach a $ 4,000 region, the highest performance in Altcoin.
The pressure of the sale means negative work.
However, Ethereum may be ready for a new increase in the coming months.
Distinguished factors earlier are the key to this view, especially low gas fees.
Some analysts believe that the ETH price is re -testing $ 4000 in the coming weeks, with the possibility of operating it if BTC also rises.
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