Will ETH Overcome $3000 Amid Wild Gas Charges?
Today we have already written that the price of the cryptocurrency Ethereum has set the largest high in history. Will the price go further, and will the extortionate gas fee prevent a $3,000 ceiling?
On the cryptocurrency chart you can see a strong bullish impulse. Even after rising above $2,200 and the subsequent correction, the price of the token is not much different from ATH. What's more, the coin is still above the support level. This is a big win for bull traders.
There are two resistance levels ahead - $2,400 and $2,500. And cryptocurrency analysts predict that the coin will not stop there. After breaking through the $2,500 token will run to $3,000.
If this peak is conquered by ETH, there will be $4,000 rise which will not be so difficult to get to. In fact, analysts say $ 3,000 could be an intermediate stage. On the day when the cryptocurrency Ethereum breaks this threshold, probably a new ATH will be installed - above $4,000.
The forecast market analysts is based on the previous increase in the price of the coin. A couple of times on the charts there was a bullish price movement, against which resistance became support, and the price instantly burst forward.
Of course, this forecast is remarkable. But does this mean that the ETH blockchain will become a playground for the rich? Already, the commissions in the network are so high that they make up 30%-40% of the transaction value.
Many projects are moving to other blockchains. What happens if the price of one ETH reaches $4,000?
- First, according to analyst Lark Davis, the increase in gas fees stimulates the growth of tokens such as BNB.
- Secondly, blockchain users will be incredibly happy on the days when the actual commission will be $30 per transaction.
- Third, users will try to save money and then make one large transaction.
- Fourth, Projects on the Ethereum blockchain need to implement second-level solutions that make transactions cheaper.
And, in general, it's time to move on to staking. This period in the history of Ethereum has been terribly prolonged. The high price for gas can be a deterrent that will limit the growth of the price of cryptocurrency.
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The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.