Analysis: Gas fees are low but Ethereum prices remain strong, $2,500 should still be considered a key technical support level

PANews reported on July 9 that Matrixport analysts said today that recently, the price of Ethereum has shown resilience beyond fundamental expectations. Although the on-chain activity continues to be sluggish and the gas fee has not recovered significantly, the price of Ethereum is still rising steadily.

The analysis pointed out that this trend is mainly driven by the following factors: some institutions have included ETH in their treasury assets, strengthening its "digital gold" positioning; the active issuance of stablecoins has injected liquidity into the on-chain ecosystem; and the advancement of the US "GENIUS Act" has brought medium- and long-term policy benefits to Ethereum. At the same time, seasonal strength and market expectations have further supported the price structure. For long positions, $2,500 should still be regarded as a key technical support level.