Ethereum price moves toward $3K, but pro traders choose not to add leverage

Although Ether (ETH) prices bounced more than 20% from a low of $ 2,300 on February 22, derivative data shows that investors are still cautious. To date, the price of ether is down 24% year-over-year, and key overhead resistance is ahead.

Ethereum's most significant problem is the high network transaction fees and investors are increasingly concerned that the network will remain a problem even after integrating its long-awaited upgrades.

For example, the average transaction fee for a 7-day network is still above $ 18, while the value of a network locked in a smart contract fell 25% between January 1 and February 27 to $ 111 billion. This negative indicator may partly explain why ether has declined. - Trends from the beginning of February.