Slightly weaker but mostly flat: ETH is currently trading at $1,322.52 as it maintains an active range between $1,321 and $1,338.83.
Ethereum's upper Bollinger band is at $1,364.62 which indicates a further downward move may follow. In contrast, ETH could begin to recover as it approaches significant support, now $19.23 away from $1,303.29. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts ETH to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Ether is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Ripple is down $0.01 from the beginning of the session and now trades around $0.471. Cardano is trading around $0.366 (down $0.007). FTX Token is down to $23.72, losing $0.429, after closing at $24.15 in the preceding trading session.
11 months ago ETH reached a significant high of $4,822 but has consequently lost 72.36% since then. ETH is currently trading with a market cap of 161.84 billion with an average daily volume of 1.24 billion.