Bearish Ether currently $7.79 lower after trading as high as $1,924.21

Ether is grinding lower from $1,924.21 to $1,916.42, shedding $7.79 (0.4%) today.

Ethereum made an initial break below its 3 day Simple Moving Average at $1,902.49, a possible indication of a forthcoming negative trend. Ether's upper Bollinger Band® is at $2,008 which indicates a further downward move may follow. In contrast, Ethereum could begin to recover as it approaches significant support, now $7.56 away from $1,909. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts ETH to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the Ethereum is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, EOS is down $0.037 from the beginning of the session and now trades around $0.749.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%. Litecoin increases 3.78% to trade around $111.42.

Ether has appreciated 60.24% over the past six months. Ether has a market cap of 230.39 billion with an average daily volume of 7 billion.