A mostly flat day so far for Ethereum, ranging between $1,644.77 and $1,660.47; currently at $1,648.
Ethereum made an initial break below its 10 day Simple Moving Average at $1,643.57, a possible indication of a forthcoming negative trend. Ether's upper Bollinger Band® is at $1,751.55, suggesting that a downward move may follow. Despite this, Ethereum is approaching key support, around $20.76 away from $1,627.23. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Ethereum is positioned for a downward move in the near term.
Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. Tezos USD slips 1.59% to trade around $1.32. UNICORN Token USD is up 1.62%.
Ether has gained 37% since its lowest print of $993.77 earlier this year. ETH is currently trading with a market cap of 201.67 billion with an average daily volume of 5.54 billion.