Struggling to find upward momentum, Ether has shed $8.6 to currently trade at $1,638.65 as it ranges between $1,634.22 and $1,650.25 so far today.
Ethereum's upper Bollinger Band® is at $1,682.17 which indicates a further downward move may follow. In contrast, Ethereum could begin to recover as it approaches significant support, now $3 away from $1,641.64. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ethereum to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the ETH is expected to attract significant bearish sentiment in the coming days.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Polkadot is up 1.88%. TRON is up 0.74%.
Ethereum has gained 40.05% since its lowest print of $993.77 earlier this year. Ether has a market cap of 200.53 billion with an average daily volume of 1.35 billion.