The ETH price has just dropped below 3,500 USD, trading at 3,499.23 USD with a daily increase of 0.67%.
On August 4th, the cryptocurrency market recorded a slight fluctuation in Ethereum price when it dropped below 3,500 USD but still maintained a slight upward trend for the day.
MAIN CONTENT
ETH dropped below the critical 3,500 USD mark.
Ethereum price recorded a trading level of 3,499.23 USD/coin.
Slight growth of 0.67% on August 4th.
What is the current price of ETH?
According to market data on August 4th, Ethereum price was trading at 3,499.23 USD per coin, marking a slight decrease when falling below the 3,500 USD threshold.
This price level reflects short-term price fluctuations in the cryptocurrency market while maintaining a daily increase of 0.67%. This volatility indicates a competition between selling pressure and buying demand in the market.
What does the daily increase of 0.67% indicate?
The 0.67% increase indicates that although ETH price briefly dropped below 3,500 USD, there is still a positive balance from buying pressure pushing the price up slightly.
These price fluctuations often reflect technical factors and short-term investor sentiment, alongside economic and financial events affecting the entire cryptocurrency market.
The ETH price trading around 3,499 USD reinforces support somewhat against short-term downward pressure.
Cryptocurrency market analyst, 2024
Frequently Asked Questions
Is the drop of Ethereum price below 3,500 USD concerning?
It is important to monitor long-term trends and other technical signals; small fluctuations like this are common and do not necessarily signal severe price drops.
What does the 0.67% increase in ETH price over the day mean?
Indicates slight buying pressure, helping the price maintain momentum after dropping below the critical mark.
What factors have affected ETH price fluctuations recently?
Macroeconomic factors, technology updates, and market sentiment all impact Ethereum's price.
Could ETH soon surpass the 3,500 USD mark again?
This depends on market demand as well as related macroeconomic events; further monitoring of technical indicators is necessary.
How to get accurate ETH price updates?
It is advisable to monitor reputable exchanges and reliable cryptocurrency market data platforms for the latest information.
Source: https://tintucbitcoin.com/ethereum-con-duoi-3-500-usd-tang-067/
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