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Ethereum Struggles Below $2,000: These 4 Charts Predict a 500% Surge Once Resistance Breaks!
Despite struggling to cross the $2000 mark, Ethereum may be on the cusp of a major breakthrough. Four critical charts are indicating that once resistance levels are breached, a monumental price surge of over 500% could unfold.
The data suggests that the market is undergoing a necessary rebalancing phase, driven by declining active addresses, reduced total fees burnt, decreasing transaction expenses, and a growing ETH supply post-merge. This convergence of indicators signals major price momentum after resistance break.
Firstly, the decline in active addresses is an encouraging sign for investors, as it highlights a shift towards more efficient network operation. As users become more adept at utilizing Ethereum’s improved scalability and reduced costs, adoption rates are expected to soar, leading to increased demand and subsequently higher prices.
Furthermore, the reduction in total fees burnt indicates a significant decrease in operational expenses, making the network more appealing to users who can now participate without excessive financial burdens. This, in turn, would accelerate user adoption and boost Ethereum’s market value.
A notable shift is observed in transaction expenses, as fees per transaction have decreased significantly. This substantial drop in costs has rendered Ethereum more attractive to users, who are no longer deterred by exorbitant fees. As a result, we can expect an influx of new users to the network, further driving up demand and prices.
Lastly, the unexpected surge in total ETH supply post-merge has created a unique opportunity for Ethereum to reposition itself as a more valuable asset. This increased supply is expected to fuel growing demand, as investors recognize the potential inherent in this shift towards greater deflationary pressures on the network.
The breaking of resistance levels, therefore, may trigger an unprecedented 500% price increase, which could be the start of a profitable period for Ethereum enthusiasts.
Source: https://cryptonewsland.com/ethereum-struggles-below-2000-these-4-charts-predict-a-500-surge-once-resistance-breaks/
