Ethereum’s Early August Surge Meets Reality Check as Bears Eye Dip Below $4,000

Ethereum’s rally in early August drove the largest altcoin to a cycle peak of $4,793 by August 14, marking one of its strongest performances of the year.   However, the sharp rise also triggered a wave of profit-taking, which has since put significant pressure on the asset and caused it to lose much of its recent gains. With selloffs intensifying in the derivatives market, ETH now faces the risk of a breakdown below the $4,000 price mark. ETH Faces Heavy Sell Pressure ETH’s price has been weighed down by the bearish tilt in sentiment among its derivatives traders source: https://beincrypto.com/eth-price-eyes-fall-below-4000/