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Ethereum Price Daily Analysis: Stable Trading Around $1635, Market Shows Optimism, Sept 16, 2023

Ethereum saw a relatively stable trading day today with a slight decrease of -8.47028% over the last week. Currently, the world’s second largest cryptocurrency by Top 50 Crypto ranking is trading around $1635.3700.

The 24-hour price range for Ethereum was between $1652.73 and $1611.36 with a total trading volume of $7065578418. The market sentiment currently sits at 63.06%, indicating a generally positive attitude towards the cryptocurrency.

The market capitalization of Ethereum remains strong at $196559120135 making it the second ranked cryptocurrency by market cap following Bitcoin. The market cap dominance of Ethereum currently stands at 16379.9267.

In the last 7 days, Ethereum has seen a price range of 0.1066%, with a general price trend facing a downtrend from last week.

Ethereum has a circulating supply of 120223330.911376 ETH. It’s important to note that there’s no maximum supply for Ethereum, which is one of its distinguishing features compared to Bitcoin, which has a fixed supply limit.

The all-time high price for Ethereum was $4878.26, while its all-time low was sharply lower at $0.432979. Correlating with Bitcoin and other cryptocurrencies, Ethereum often exhibits similar price movements. Currently, the price of Bitcoin stands at $26,523.

Ethereum Price Prediction for the Next 24 Hours

Given the current market sentiment, the Ethereum price could continue to hover around the $1630 to $1650 range based on today’s trading behavior. Traders should keep an eye on the market volume as a significant increase could indicate potential price swings.

Seven Day Ethereum Price Prediction

Over the next week, if the market sentiment holds steady above 60%, and no significant news disrupts the crypto landscape, we could see Ethereum trade within the $1610 to $1650 range. Investors and holders of Ethereum should always be prepared for volatility and consider their risk appetite when investing.

The data provided reflects the state of the Ethereum market as of September 16, 2023. Keep in mind that cryptocurrency investments carry risk, and past performance is not a guarantee of future results.

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