Ethereum Flashing Bullish Signals, ETH Price on its Way to Hit $2200 this Week

Ethereum price surged high after undergoing a stiff brawl with the bears to reach the highs at $1726.16 in the early trading hours. Currently, the asset is not experiencing any significant bearish pressure; hence, the possibility of ETH price rising above $1800 appears very high. However, some of the basic levels are to be considered where-in the asset may experience a trend reversal regardless of the direction.

The ETH merger is expected to switch the network from Proof-of-Work (PoW) to Proof-of-Stake(Pos) in 43 days. Interestingly, the L1 on-chain transaction costs or gas fees for Ethereum have dropped below $5 in the recent past and by the end of July, dropped heavily. Presently, the average gas fee is around 0.00086 or around $1.5 in the past 24 hours which makes the median prices significantly lower.


The high gas fees remained a huge concern for a pretty long time.  Therefore, the ethereum