Ether is grinding lower from $1,908 to $1,863.71, shedding $44.29 (2.32%) today.
Ethereum made an initial break below its 3 day Simple Moving Average at $1,895.2, a possible indication of a forthcoming negative trend. Ether's upper Bollinger Band® is at $1,906.63 which indicates a further downward move may follow. Despite this, ETH could begin to recover as it approaches significant support, now $7.38 away from $1,871. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Ethereum.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.092, Dogecoin lost $0.004 and is trading around $0.089. Cardano is down to $0.382, losing $0.01, after closing at $0.392 in the preceding trading session.
Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36.
ETH has gained 58.9% since its lowest print of $993.77 earlier this year. ETH is currently trading with a market cap of 224.50 billion with an average daily volume of 9.44 billion.