#Ethereum’s gas fees have plummeted to levels not seen in years, with the base fee dropping to just 0.8 gwei.

This significant decline has led to a reduced ETH burn rate, impacting Ethereum’s supply dynamics.

The decrease in fees is largely attributed to the adoption of Layer 2 solutions and recent network upgrades, enhancing transaction efficiency.  While lower fees benefit users, they also result in less ETH being burned, potentially influencing the cryptocurrency’s value proposition.

😍😍😍 #Ethereum’s Breakout Potential: Are #Bulls Ready to Surge?

Ethereum Price Targets $4,000 Resistance as Momentum Builds

- Ethereum’s price is gaining traction, currently trading at $3,916, and showing strong potential for further gains. With the $4,000 resistance within reach, $ETH could soon aim for higher targets if key resistance levels are surpassed.

Current Price Action

- Ethereum held firm above $3,500, tracking Bitcoin’s positive momentum. It recently broke through key resistance levels at $3,650 and $3,720, supported by a breakout above a bearish trend line at $3,720 on the ETH/USD hourly chart (via Kraken). Additionally, ETH climbed above the 50% Fibonacci retracement level of the decline from $4,015 to $3,488.

- Now trading above $3,750 and the 100-hourly Simple Moving Average, Ethereum is approaching the next major hurdle at $3,950, with strong resistance anticipated near the $4,000 level.

Upside Potential

- With ETH trading at $3,916, it is close to breaking the $4,000 resistance. A clear move above $4,000 could trigger further gains, targeting $4,050 initially. Beyond that, ETH may advance toward $4,150 and even $4,220 if momentum continues.

Risk of a Downturn

- If Ethereum fails to break the $4,000 resistance, a pullback could occur. Immediate support is near $3,850, followed by stronger support at $3,750. A drop below $3,750 might send the price toward $3,650, with additional support levels at $3,550 and $3,500.

Technical Indicators

- Hourly MACD: Gaining bullish momentum.

- Hourly RSI: Positioned well above 50, signaling strength.

- Key Support Levels: $3,850, $3,750, $3,650.

- Key Resistance Levels: $4,000, $4,050, $4,150.

Ethereum remains in a strong uptrend as long as it maintains support above $3,850. Breaking through $4,000 could confirm a bullish continuation in the near term.

#BinanceSquareTalks #CryptoMarketPredictions #ETH🔥🔥🔥🔥

104 #Whales Now Control Over 57% of #Ethereum’s Total Supply 🐋

Did you know? 104 wallets holding 100,000 $ETH or more (that’s ~$400 million per wallet!) now control a staggering 57.35% of #Ethereum's total supply – marking a new all-time high!

💰 These wallets collectively own 83.81 million #ETH , valued at $335.2 billion.

Meanwhile, smaller holders – the so-called sharks (100-100,000 $ETH ) and shrimps (up to 100 $ETH ) – are seeing their share hit new lows.

📈INSIGHT: #Ethereum’s chart signals to traders that a new high could hit next week

Crypto traders are turning extremely bullish on $ETH , saying it is going “much higher, far beyond your worst nightmares.”

#ETH🔥🔥🔥🔥