Ether slides down from $1,296 to $1,287.36 today, losing $8.64 (0.66%).
Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Ethereum's upper Bollinger Band® is at $1,298.57 which indicates a further downward move may follow. Technical analysis of Ethereum's past price action reveals multiple support and resistance levels: ETH could begin to recover as it approaches significant support, now $52.87 away from $1,234.49. Dipping below could be an indication that further losses are ahead.
Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.107, Dogecoin lost $0.003 and is trading around $0.105. Litecoin decreases 2.43% to trade around $77.32. Binance Coin is trading around $295.85 (down $5.61).
Since its 52-week high of $4,655.81, ETH has lost 72.17% over the last twelve months. Ether has a market cap of 157.54 billion with an average daily volume of 1.37 billion.