{"id":8900,"date":"2022-03-01T04:14:57","date_gmt":"2022-03-01T04:14:57","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ethereum-price-moves-toward-3k-but-pro-traders-choose-not-to-add-leverage\/"},"modified":"2022-03-01T04:14:59","modified_gmt":"2022-03-01T04:14:59","slug":"ethereum-price-moves-toward-3k-but-pro-traders-choose-not-to-add-leverage","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ethereum-price-moves-toward-3k-but-pro-traders-choose-not-to-add-leverage\/","title":{"rendered":"Ethereum price moves toward $3K, but pro traders choose not to add leverage"},"content":{"rendered":"
Even though Ether (ETH) price bounced over 20% from the $2,300 low on Feb. 22, derivatives data shows that investors are still cautious. To date, Ether’s price is down 24% for the year, and key overhead resistances lay ahead.<\/p>\n
Ethereum’s most pressing issue has been high network transaction fees and investors are increasingly worried that this will remain an issue even after the network integrates its long-awaited upgrades.<\/p>\n
For example, the 7-day network average transaction fee is still above $18, while the network value locked in smart contracts (TVL) decreased 25% to $111 billion between Jan. 1 and Feb. 27. This negative indicator could partially explain why Ether has been down-trending since early February.<\/p>\n