Ethereum's gas fees have dramatically decreased to their lowest levels in five years, which has sparked optimism about a potential price rebound for Ether (ETH).
Ryan Lee, the chief analyst at Bitget Research, noted that historical data supports the trend that significant drops in Ethereum gas fees often signal a price bottom for ETH in the mid-term.
This potential bullish signal has caught the attention of many in the cryptocurrency community, who are keenly monitoring price movements.
