Ether Prices Fall Below $3,500 After Market Shows Signs Of Exhaustion

Key Points

1. Ether dropped to approximately $3,475.00, down more than 10% from its peak of around $3,940.00 on July 28.

2. Analysts attribute the decline to overheated markets cooling off, rotation into Bitcoin, and seasonal weakness in risk assets.

3. The drop followed a rapid five-week rally where Ether nearly doubled in value without a major retracement.

4. Despite the pullback, underlying support for Ethereum remains strong, with renewed interest in staking and institutional experimentation.

5. Experts suggest the correction may firm up support above $3,000 and set the stage for a new all-time high later in the quarter.