Will we witness a collapse in the price of #Ethereum?!
_ The average gas fee on the #Ethereum network was $1.13, the lowest level since November 2022. Some analysts believe that the native #cryptocurrency of Ethereum (ETH). It may form a bottom similar to the one in late 2022 based on on-chain data. According to a post by analytics firm #Santiment. The average fee level on the Ethereum network this week reached $1.13. It is the lowest level since November 2022, when Ethereum bottomed at $1,100. Analysts noted that this is “by no means an ideal signal.” However, they acknowledged that lower toll costs “generally lead to a recovery in prices.” When ETH fell to its lowest levels in 2022. The coin did not rise above $2,157 before May 2023. However, there are no direct indications that this scenario can be replaced.
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