A mostly flat day so far for ETH, ranging between $1,949.3 and $1,965.4; currently at $1,955.21.
Ethereum made an initial break below its 3 day Simple Moving Average at $1,951.61, a possible indication of a forthcoming negative trend. Ethereum's upper Bollinger Band® is at $2,020.7, suggesting that a downward move may follow. In contrast, Ether is approaching key support, around $17.34 away from $1,938. 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.
According to technical indicators, Ethereum is positioned for a downward move in the short term.
At the same time, mixed performances are seen elsewhere as FTX Token rallies 9.54% to trade around $1.36. Bitcoin Cash is down to $284.03, losing $6.37, after closing at $290.41 in the preceding trading session. After ending today's session at $0.767, EOS lost $0.013 and is trading around $0.754.
Ethereum has gained 63.53% since its lowest print of $1,036.56 earlier this year. Ether has a market cap of 235 billion with an average daily volume of 7.20 billion.