zkEVM race heats up. Performance improves, but gas costs matter. Winners will deliver sustainable adoption.
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Recent exchange traffic data reflects bearish sentiment, with ETF outflows and miner selling pressuring Bitcoin and Ethereum prices. Technical indicators show oversold conditions, but low trading volumes suggest weak buying interest. Bitcoin may test $88,000 resistance, while Ethereum struggles below $2,000. Short-term price recovery depends on catalysts like Fed easing. Investors should monitor on-chain activity and sentiment indicators for reversal signals.
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Ethereum’s recent Gas fee decline, driven by Layer-2 scaling solutions, has boosted DeFi activity by lowering transaction costs. This enhances user adoption in protocols like Uniswap, increasing ETH’s utility. However, lower fees reduce ETH burn, potentially easing deflationary pressure and capping price upside. ETH trades at $2,310 support, with resistance at $2,850. The RSI (42.86) suggests bearish bias, but DeFi growth could drive demand. Over the next three months, ETH may test $2,850 if DeFi momentum continues, but a drop to $2,200 is likely if broader market corrections persist.
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