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<p>Ethereum (ETH) is testing a critical resistance level that could confirm the end of its macro-bear market, according to top analysts.</p>
<p>Founder of MN Trading Michaël van de Poppe <a href="https://twitter.com/CryptoMichNL/status/1724055350582595815" target="_blank" rel="noopener noreferrer nofollow">notes </a>that ETH breaching $2,150 decisively would be comparable to Bitcoin breaking above $30,000 in significance given the current market structure. With strength in 2023 so far, this benchmark could propel ETH back toward the $3,000 to $3,600 range.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="554" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-1024x554.png" alt="" class="wp-image-376383" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-1024x554.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-767x415.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-1536x831.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-2048x1108.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-277x150.png 277w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-647x350.png 647w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324-788x426.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-324.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>However, on-chain analytics provider <a href="https://twitter.com/santimentfeed/status/1724319912552996864" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> cautions that while network growth is positive, Ethereum transaction fees remain a wildcard. As ETH pushed back above $2,000 last week, fees have spiked but are still below the extreme levels seen in May 2022 during heightened congestion.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="652" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-1024x652.png" alt="" class="wp-image-376375" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-1024x652.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-300x191.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-768x489.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-1536x978.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-2048x1304.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-236x150.png 236w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-100x64.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-550x350.png 550w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323-788x501.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-323.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Santiment suggests monitoring how sustained high fees could impact the use of ERC-20 tokens and limit adoption of Ethereum in the near term. Layer 2 scaling solutions will be key to managing throughput limitations.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/tellor-whales-trigger-33-trb-freefall-who-dumped-and-how-much-did-they-make/" target="_blank" rel="noopener noreferrer nofollow">Tellor Whales Trigger 33% TRB Freefall: Who Dumped, and How Much Did They Make?</a></li>
 <li><a href="https://captainaltcoin.com/analyst-compares-kaspa-to-cardano-revealing-his-kas-strategy-while-the-coin-trades-in-red/" target="_blank" rel="noopener noreferrer nofollow">Analyst Compares Kaspa to Cardano, Revealing His KAS Strategy While the Coin Trades in Red</a></li>
 <li><a href="https://captainaltcoin.com/uncovering-hidden-crypto-treasures-the-growth-potential-of-neo-rblz-and-egld/" target="_blank" rel="noopener noreferrer nofollow">Uncovering Hidden Crypto Treasures: The Growth Potential of NEO, $RBLZ, and EGLD</a></li>
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<p>In summary, overcoming the $2,150 threshold would be very bullish technically for ETH. But fee dynamics that worsen as activity picks up remain a longer-term headwind. Striking the right balance between scaling and decentralization will determine if Ethereum can grow to its full potential this cycle.</p>
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<p>The post <a href="https://captainaltcoin.com/ethereum-fees-surge-as-it-faces-final-resistance-analyst-eyes-3600-for-eth-if-this-level-breaks/" rel="noopener noreferrer nofollow">Ethereum Fees Surge as It Faces Final Resistance; Analyst Eyes $3,600 for ETH if This Level Breaks</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ethereum Fees Surge as It Faces Final Resistance; Analyst Eyes $3,600 for ETH if This Level Breaks

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