Ethereum May See Its Most Important Breakout Since 2018: All Eyes on $240

Analysts say that with this recent price action, ETH is likely preparing to see a massive breakout. Chart from TradingView.comA Rapidly Growing Bull Case This crucial analysis of the ETH price comes as the underlying Ethereum network has seen a growing fundamental case, analysts have said.

ETH Fees Could Be a Short-Term Concern What may prevent bullish price action, though, is high transaction fees. Analyst Qiao Wang, a former executive at Messari, remarked that these instances of high fees leave Ethereum vulnerable to being “dethroned”: “So long as ETH 2.0 is not fully rolled out, there’s an obvious opportunity for a highly scalable blockchain to dethrone Ethereum.

Timeline of Ethereum