Ethereum Gas Usage Soars Driving Growth

Ethereum Faces Key Resistance Amid Strong Fundamentals

• Ethereum is consolidating below the $2,700–$2,800 resistance zone.
• The price is currently at $2,617, with strong support around $2,550.
• Daily gas usage on Ethereum’s network has been rising steadily since 2016.
• The 34 EMA is at $2,366, providing a key support level.
• Ethereum’s fundamentals show strength despite market volatility.

Ethereum remains in a consolidation phase below the critical resistance zone of $2,700–$2,800. Despite several attempts to break through this barrier, Ethereum’s daily gas usage continues to rise steadily since 2016, indicating strong underlying demand and network activity.