Bearish Ethereum currently $21.81 lower after trading as low as $1,835

Slightly weaker but mostly flat: Ethereum is currently trading at $1,840.19 as it maintains an active range between $1,835 and $1,888.19.

Trend and momentum analysis indicates that Ethereum made an initial break below its 3 day Simple Moving Average at $1,858.5, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $1,739, a low enough level to, generally, suggest that ETH is trading below its fair value. Analysis of Ethereum's recent price action suggests ETH bounced after reaching the $1,828 support zone, climbing $12.32 above it.

Overall, the technical outlook suggests Ethereum is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Bitcoin is down to $27,300, losing $276.4, after closing at $27,576 in the preceding trading session. Cardano is down to $0.384, losing $0.005, after closing at $0.389 in the preceding trading session.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

ETH has gained 52.67% since its lowest print of $993.77 earlier this year. ETH has a market cap of 221.58 billion with an average daily volume of 9.56 billion.