The price of Ethereum (ETH) is down.  The resistance level for ETH price was trending at $3,500.  Now that the price has slumped below its resistance level, ETH killers like Solana, Avalanche, and Cardano are trying to take over their best spots.

All of the Ethereum Killers are working to improve on the major weak areas on the Ethereum Protocol. To keep the price of Ethereum afloat some investors are trying to burn ETH.

There are a range or reasons for why the price of Ethereum is falling.  There was a time when Ethereum smart contracts were unique; however, Ethereum Killers and several others are coming up with what the Ethereum blockchain has been providing.  The high gas fees are frustrating to its investors. Advanced ecosystems facilitated by the ETH killers is disruptive to the protocol’s adoption. Thus, the investors are frequently facing selling pressure triggered by the market trends.

If the price will trend further down, the price of ETH will go a lot below the support zone. Ethereum 2.0 and PoS is a big hope for its investors. If all goes well as planned, the crypto is expected to gain value in 2022.

Despite all this, Ethereum continues to be in the list of must buy and hold crypto. It continues to be hailed as a crypto with a promising opportunity. The Dapp, DeFi and NFT products on the Ethereum blockchain are expected to hold the ETH world together for its investors who have staked their value in the blockchain.

When more numbers of consumers adopt the products which are built on the Ethereum blockchain, the demand for ETH token is expected to increase – further leading to an increase in the price. With more of institutional investors claiming their pie in the market cap and Ethereum being an early mover in the smart contract, Dapp, DeFi and NFT market – odds are expected to be in its favor. Whether reality will be the same is something that time should unveil.

Those who are trying to understand Ethereum should understand the Ethereum gas market. EIP-1559 promised better and faster transaction.  Overpaying for transactions as significantly reduced.  However, those who are involved in legacy transactions might not enjoy reduced gas fees, but those who are doing type 2 transactions will enjoy gas price decrease.

Overpaying happens when users not only pay for getting included in transaction, but also when they pay more to get listed ahead in transactions. For someone who is just getting in to the market, it might take some real-time experience to get an exact idea of the gas price and its consequences.