Ether slides down from $2,118.61 to $2,076.46 today, losing $42.15 (2%).
Ethereum made an initial break below its 5 day Simple Moving Average at $2,086.18, a possible indication of a forthcoming negative trend. ETH's upper Bollinger Band® is at $2,148 which indicates a further downward move may follow. On the other hand, note that Ether could begin to recover as it approaches significant support, now $10.48 away from $2,087. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for ETH.
In the meantime, negative performances are also seen in other markets, Bitcoin is trading around $29,441 (down $859.37). Algorand USD slumps 5.05% to trade around $0.223.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 76.51% year to date. ETH has a market cap of 248 billion with an average daily volume of 8.94 billion.