The price of ETHEREUM decreases to its lowest level over 17 months, and gas fees are at its lowest level for 4 years

summary:
• The price of Ethereum is affected by the declining pressure, as the decrease in gas fees indicates a possible decrease in the investor’s enthusiasm.

ETHEREUM price fell more with investors from being exposed to risks in the face of mutual tariffs in the United States on Wednesday. The encryption currency decreased by 1.7 % at the time of writing this report and was circulated at $ 1760-the lowest level since October 2023. ETH has lost 47 % of its value from year to date, confirming a strong declining contract.

Ethereum Blockchain has lost its grip on some of the most important summons that it keeps against its peers in the encryption industry. For example, her performance in the Defi market was in the declining direction, as the total closed value (TVL) decreased by 8.3 % to 49.7 billion dollars.

In addition, there has been a significant decrease in ETH gas fees in recent weeks. According to Glassnode data, the average ETHEREUM transaction fee is currently approaching its lowest level for four years. This not only shows a decrease in network congestion, but also indicates a decrease in transactions on the series, which may lead to the enthusiasm of the cooling investor.

The popularity of layer 2 solutions such as arbitrary and optimism and Zysync contributed to the low demand for space on Mainnet, which also helped reduce transactions fees.

However, there is a silver lining for it. With gas prices on landing, new users and more developers can flow to the ethereum ecosystem, which may lead to increased adoption in the long rum. In addition, the revival of ETHEREUM prices can be stimulated by agreeing to more ETF approval and leadership.

However, in the short term, the ETH price is likely to remain in the declining direction. The trading volume increased 24 hours by 85 % at the time of writing this report, indicating high pressure pressure with low price. This will undergo the capacity of the ETH price.

Predicting ETHEREUM price

The axes are probably sent at ETHEREUM price at $ 1825, and the resistance is likely to send this level to the lower coin to find the first support at $ 1750. A sellers stretching component will be lower than this level and may test $ 1700.

On the contrary, breaking more than $ 1825 will indicate a transformation by momentum to the upward trend. The price of buyers in ETH is likely to rise to the top and face the first resistance at $ 1866. The negative side recounting will be invalid if the price exceeds this level, with the resulting momentum method to test 1922 dollars.