CandleFocus Big Change on the Ethereum Network: Coinbase Officials Speak About The Incident
2024-09-27
Author: Content Editor
Recent reports from Coinbase and Kraken highlight the rise in Ethereum transaction fees and its potential bullish shift. The Coinbase report reveals that Ethereum transaction fees have surged due to increased on-chain activity and rising gas prices. The average gas price on Ethereum increased by 498% between September 16 and 26. Meanwhile, the Kraken report notes that Ethereum has broken above a relative strength index downtrend line, signaling a potential shift in momentum. However, caution is advised as Ethereum remains below its 200-day exponential moving average, which acts as a key resistance level.
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