Main takeout:
Ether Lee is forming a bull flag on the daily chart and the potential disturbance is $ 4,000.
If Ether Lee’s network activity and total value continues to increase, ETH prices can benefit from additional profits.
Ether’s price is printed on a daily chart and a technical chart forming related to strong upward momentum. Can Technology Setting and Trading Fee increase signal ETH’s rally to $ 4,000?
Ether Leeum transaction fee increase is optimistic.
By increasing to the new record of Bitcoin and improving the macroeconomic situation, the entire market recovery rose almost 56% from $ 1,750 on May 6 to $ 2,734 on May 23.
The strength of this price is reflected in the onChain activity and Ethereum’s daily transaction has increased 37% over the last 30 days. This level appeared in January 2024, when over -advertising on the approval of US -based SPOT Bitcoin ETF after January 2024, the ETH price for the first time for more than $ 4,000.
Ether Leeum’s daily average transaction fee has soared, reaching a maximum of 0.0005 ETH ($ 1.33) on 90 days on May 22.
According to high transactions and fees, more users interact with the network for defi, NFT or other DApps. It proposes high network activities, often related to increased interest and market trust.
relevant: Ether Leeum holders as ETH Price entered the ‘important area’ in $ 3K breakout.
Historically, the price of ether has soared during the high period. For example, the fee has soared to 0.015 ET due to the high demand for 2021 Defi Boom.
Therefore, the high utilization period with high fees indicates the growth of network activities or strong emotions because more ET is required for gas.
TVL increase supports ETH Price Bulls.
Ether Leeum’s network activity is also clear when analyzing the total value (TVL) in the smart contract of the network.
Ether Lee’s tvL increased from $ 45.6 billion to $ 65.3 billion on April 22, April 23, increasing more than 44% in almost 30 days.
Benign signs include 48% growth in Pendle’s sediment increase by 51%, tokenization protocols, ether.fi and eingenlayers.
Ether Leeum remains a controversial leader in TVL with 54%of market dominance. In comparison, Solana’s dominance is 8%and the BNB chain is ordered only 5%on TVL during Layer-1 Chain.
In addition, the US listed SPOT ETHER ETFS has seen a total of $ 224 million in a total of $ 224 million between May 13 and May 22.
The bull’s flag of ether hints $ 4,000
ETH Price has formed a bull FAG chart pattern on the daily chart as follows.
Bull Flag Pattern is a strong setting that is formed after the price rises rapidly and then integrates the price within the down sloping range.
The flag has been solved after the price has risen to $ 2,550 from the top trend line, and can now rise by the height of the previous rising trend. As a result, the top goal of ETH price is less than $ 4,000, up 56% from the current price.
Michael Van de Poppe, an encryption analyst, said that ETH prices should be supported to increase the likelihood of moving to more than $ 3,500.
As reported by COINTELEGRAPH, if the level of support is maintained, Ether’s upward trend will continue to $ 3,600 in May.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.