Buy signal for Ethereum as gas fees drop to 6-month low
Ethereum (ETH) gas fees dropped to $1.12 per transaction on April 27, a level previously visited on October 18. This could hint at a historical buy signal as cryptocurrency analysts point out gas fees as bottom and top indicators. In particular, the leading Santiment analyst Brian Q shared an insight on the platform, studying gas fees’ correlation to price. ETH was trading at $3,300 per token by press time. “Traders historically move between sentimental cycles of feeling that crypto is going “To the Moon” or feeling that “It Is Dead”, which can be observed through transaction fees. These fees will tend to peak (and sometimes diverge) around price tops, and go back to its resting state around price bottoms.” – Brian Q for the Santiment Picks for you 'Real damage' incoming: Recession probability' extremely elevated' 15 mins ago Opportunity? Brace for XRP breakout ahead of ‘exciting changes’ 17 hours ...
