The Ethereum (ETH) market put on a thrilling price drama last night, with the ETH price experiencing dramatic fluctuations within just a few hours, leaving investors on the edge of their seats like a roller coaster ride. In the key range of $4200 to $4400, both bulls and bears engaged in fierce clashes.
The market trend resembles a 'N' shape, first plummeting from a high point, then rebounding, and immediately testing the bottom again. This rapidly changing market environment fully reflects the characteristic of the cryptocurrency market that 'one day is like ten years.' Several factors collectively influence the market direction, including the entry of large capital, the release of positive data, and the fluctuations in the US stock market.
It is worth noting that a large holder who purchased 1 million ETH during the Ethereum ICO suddenly entered the market at this critical moment, buying 2,000 ETH (worth approximately $8.79 million). This move boosted market confidence in the short term, raising the ETH price from $4,270 to around $4,300. However, the U.S. stock market opened lower, bringing new pressure to the market.
Subsequently, the release of the U.S. August S&P Global Manufacturing PMI data brought good news to the cryptocurrency market, with the price of ETH briefly reaching $4390. However, the speed of the market's reaction was so fast that many investors were unable to digest this information in time.
Currently, the $4200 level has become a key price point contested by both bulls and bears. Whether this level can be held may determine the short-term trend of ETH. Investors need to closely monitor market movements, weigh various influencing factors, and make cautious decisions. In this rapidly changing market, it is especially important to remain calm and rational.
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mev_me_maybe
· 9h ago
Buy early, die early; buy late, get a dog.
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OvertimeSquid
· 21h ago
The bull run is here, brothers, enter a position.
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YieldHunter
· 09-04 15:45
The battle between bulls and bears is intense, hold the line at 4200.
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OffchainWinner
· 09-03 02:49
Long positions need to put in more effort!
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GasFeeCrier
· 09-03 02:42
Breathtaking market trends
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BearMarketSurvivor
· 09-03 02:27
The cold winter has arrived, stay on the front line.
The Ethereum (ETH) market put on a thrilling price drama last night, with the ETH price experiencing dramatic fluctuations within just a few hours, leaving investors on the edge of their seats like a roller coaster ride. In the key range of $4200 to $4400, both bulls and bears engaged in fierce clashes.
The market trend resembles a 'N' shape, first plummeting from a high point, then rebounding, and immediately testing the bottom again. This rapidly changing market environment fully reflects the characteristic of the cryptocurrency market that 'one day is like ten years.' Several factors collectively influence the market direction, including the entry of large capital, the release of positive data, and the fluctuations in the US stock market.
It is worth noting that a large holder who purchased 1 million ETH during the Ethereum ICO suddenly entered the market at this critical moment, buying 2,000 ETH (worth approximately $8.79 million). This move boosted market confidence in the short term, raising the ETH price from $4,270 to around $4,300. However, the U.S. stock market opened lower, bringing new pressure to the market.
Subsequently, the release of the U.S. August S&P Global Manufacturing PMI data brought good news to the cryptocurrency market, with the price of ETH briefly reaching $4390. However, the speed of the market's reaction was so fast that many investors were unable to digest this information in time.
Currently, the $4200 level has become a key price point contested by both bulls and bears. Whether this level can be held may determine the short-term trend of ETH. Investors need to closely monitor market movements, weigh various influencing factors, and make cautious decisions. In this rapidly changing market, it is especially important to remain calm and rational.