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Ethereum Price Daily Analysis: Steady at $1596.5800 amid Mounting Market Pressure – Sep 13, 2023

Ethereum kicked off trading today at a steady $1596.5800, painting a stable digital asset picture in the Top 50 Crypto market. Over the last 24 hours, the cryptocurrency fluctuated between $1611.08 and $1581.54 with a remarkable 24-hour trading volume of $9,155,799,876. The total market cap stands at an enormous $192,217,514,995, making Ethereum the second largest cryptocurrency in terms of market capitalization.

As per the market cap dominance, currently at about 16,018.1262, Ethereum continues to hold a significant position in the market. It’s crucial to note that the circulating supply of Ethereum is around 120,222,298.05, with no defined maximum supply limit.

Ethereum’s 7-day price range saw a small decline, marking a -2.1807% decrease. The price trend overall has witnessed a notable drop by -13.50713%. However, observing the all-time high and low, we see Ethereum has reached $4878.26 and dipped to a mere $0.432979 since its inception.

### Ethereum Price Prediction: Next 24 hours
Given the current market sentiment at a considerably optimistic 76.12%, Ethereum is expected to maintain stability around the current price of $1596.5800 within the next 24 hours. Market fluctuations will be influenced by prevailing economic conditions and investor interest.

### Ethereum Price Prediction: 7 Days
Over the next week, Ethereum might grapple with minor market pressure. Despite the recent drop, considering the market’s sentiment and this week’s historical performance, Ethereum is expected to test the resistance levels, adding slight positive momentum to its value.

Ethereum’s performance tightly resonates with Bitcoin’s trend, commanding the lion’s share in the crypto market. At this writing, Bitcoin is trading at $26,108.00, and its market fluctuations are a significant indicator for Ethereum and the rest of the crypto market.

The stability of Ethereum in today’s current trading landscape serves as a testament to its resilience. Moving forward, the market will be keenly watching Ethereum’s performance in the face of global economic uncertainties and the interplay with Bitcoin’s pricing for the rest of the week.

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