According to Foresight News, The Block reported that Coinbase's weekly report showed that the surge in Ethereum chain activity has caused a surge in transaction fees in the past week. From September 16 to 26, the average Gas fee was 498% higher than the average of the previous 30 days, and the median transaction cost of Ethereum rose from $0.09 at the beginning of the month to $1.69. In addition, Ethereum DEX transaction volume increased by 9% month-on-month, and the total amount of ether transfers increased by 17% month-on-month, further pushing up transaction fees.

According to Kraken analysis, Ethereum recently broke through the downward line of its relative strength index (RSI), indicating a shift in bullish momentum in the short term, but it still faces resistance from the 200-day exponential moving average.