Following the Berlin hard fork, Ethereum’s network is ready to raise its gas limit once again.

The move is often considered a temporary solution to high gas fees and network congestion.

This is the seventh time in history that Ether’s gas limit has been increased, as the utilization of the network rises with growing popularity around Defi and NFTs.

Ethereum price defends key level and aims for a rebound

Ethereum just established a new all-time high at a price of $2,644 on April 22, but the entire market had a flash crash in the last 24 hours and Ethereum price also dropped to a low of $2,107.

On the 12-hour chart, Ethereum price has managed to remain above the 50 SMA support level at $2,157 and aims for a rebound into new all-time highs. The upper boundary of the ascending broadening wedge pattern level is found at $3,000.

The In/Out of the money Around Price (IOMAP) chart shows only one crucial resistance support area between $2,301 and $2,336 where 35,000 addresses purchased over 8.3 million ETH. A price breakout above this range should drive Ethereum price to at least its previous all-time high.

However, at the same time, the IOMAP model also indicates weaker support below. If the area between $2,160 and $2,229 fails to hold, Ethereum price would easily drop toward the psychological level at $2,000.

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