CandleFocus Ethereum (ETH) Fees Skyrocket: Here's Key Reason Behind It
2024-09-13
Author: Content Editor
Ethereum has seen a significant increase in transaction fees, rising nearly 60% this week. This surge in fees is attributed to a rise in activity on the Ethereum network as people return from vacations. Additionally, data from Santiment shows that mining wallets for Bitcoin and Ethereum have experienced a decline in supply since early 2024. The current price of ETH is $2,348, with a potential resistance near $2,400. If buyers can push the price above this level, it could lead to a rise towards $2,850. However, if the price falls below $2,300, it may indicate bearish control and could push the price towards $2,000.
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