After four consecutive days of gains, Ethereum is down $29 today

As the current session draws to a close, Ether remains in the $1,857.26 – $1,908 range after dropping 1.51%.

Ethereum made an initial break below its 5 day Simple Moving Average at $1,858.38, a possible indication of a forthcoming negative trend. Ether's upper Bollinger Band® is at $1,909.4 which indicates a further downward move may follow. In contrast, ETH could begin to recover as it approaches significant support, now $7.93 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 Ether.

In the meantime, negative performances are also seen in other markets, Cardano retreats 1.73% to trade around $0.385.

Other assets are showing positive performances as FTX Token is up 9.54% to $1.36. EOS improves 3.54% to trade around $1.23.

This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 58.9% year to date. Ethereum has a market cap of 226.34 billion with an average daily volume of 9.44 billion.