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Ethereum Price Daily Analysis: Inching Down at an Average Price of $1606.32, Sep 01, 2023

[Ethereum], the world’s second-largest cryptocurrency by market capitalization took a slight downward turn today, with the price currently standing at $1606.32. The 24-hour trading range was between $1661.96 and $1605.79. Over the last 24 hours, $8,773,208,069 worth of Ethereum was traded across majorly, marking a 12.27% dip in price trend.

The diminutive decrease in Ethereum’s price didn’t change its standing on the Top 50 Crypto list, where Ethereum still firmly holds the second position. This significant position is backed by Ethereum’s market capitalization of $193,507,856,763 and a market cap dominance of 16125.6547.

Over the last 7 days, we saw a disappointing -2.1453% shift in price range, potentially linked to the current market sentiment which stands at 58% favorable. The past seven days have not been so fruitful for Ethereum investors, possibly due to its correlation with Bitcoin, which is now priced at $25,475.

The circulating supply of Ethereum is currently 120,215,528.465943, with no max supply limit (N/A). Ethereum’s all-time high remains $4878.26, while the all-time low was once a mere $0.432979.

Ethereum Price Prediction – Next 24 Hours:

Given the present circumstances, slight fluctuations are foreseeable. Given the ongoing bearish trends, the price might consolidate between $1600 – $1650.

7-Day Price Prediction:

If Ethereum maintains its current market performance, we could anticipate a slight recovery over the week with the price expected to oscillate between $1650 – $1700.

This [Top 50 Crypto] has shown great potential despite recent market conditions. As always, potential investors should conduct careful analysis and risk assessment before participating in the market.

Note: The market analysis is purely speculative and does not constitute financial advice. It’s always essential to do your own independent research.

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