Ethereum

Ethereum transaction fees surge as blockchain activity ramps up: Coinbase

The average gas price rose by 498% in the past 10 days, and the median transaction cost jumped from $0.09 to $1.69. Several factors contribute to this uptick, including a slight increase in Ethereum decentralized exchange volumes and a 17% growth in total ether transfer volumes.

ETH transaction fees have increased due to heightened on-chain activity. [1/3] NFA

ETH's RSI downtrend line surpassed, signaling a potential short-term momentum shift and possible price increase.

The key resistance level to watch is $2,813. Ethereum crossed a crucial chart indicator suggesting a potential bullish momentum shift.

However, it's still below its 200-day EMA, a significant resistance level.

Monitoring Ethereum's interaction with the 200-day EMA is crucial as it will determine the next major price movement. [2/3]

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There are positive signs in the ether derivatives market, with the futures funding rate’s 30-day moving average showing a positive shift, indicating growing bullish sentiment among futures traders.

Ethereum’s open interest-weighted funding rate has also been trending positively since the U.S. Federal Reserve’s interest rate cut on September 18. The price of ether increased by over 1.6% in the past 24 hours to trade at $2,687. Bitcoin dominance is at 53.8%, and ether dominance is at 13.3%.

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