Ether drops from $1,905 to $1,875, losing $30 (1.59%) today.
Ethereum made an initial break below its 10 day Simple Moving Average at $1,875, a possible indication of a forthcoming negative trend. On the other hand, note that Ethereum could begin to recover as it approaches significant support, now $28.61 away from $1,846.33. Dipping below could be an indication that further losses are ahead.
Looking forward, ETH is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, EOS descends 3.04% to trade around $1. After ending today's session at $120.21, Bitcoin Cash lost $3.16 and is trading around $117.05.
Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.
Ether has gained 54.03% since its lowest print of $993.77 earlier this year. Ether has a market cap of 225.70 billion with an average daily volume of 9.64 billion.