Ether ended the previous session at $1,735.82; currently trading at $1,720.35

Trading lower, Ether is currently down $15.47 as it ranges between $1,716 and $1,748.64 so far today.

Trend and momentum analysis indicates that Ethereum made an initial break below its 10 day Simple Moving Average at $1,717.59, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $1,624.73, a low enough level to, generally, suggest that Ether is trading below its fair value. Chart analysis suggests after reaching the $1,714 support zone, ETH bounced and climbed $6.41 above it.

Notwithstanding Ethereum's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

In the meantime, negative performances are also seen in other markets, Ripple is down to $0.476, losing $0.018, after closing at $0.493 in the preceding trading session. EOS closed at $0.609 (down 3.18%).

Other assets are showing positive performances as FTX Token leaps up 9.54% to trade around $1.36.

Approximately 2 months ago, Ether reached a significant high of $2,120 but has struggled to hold onto its gains and declined 18.12% since then. Ethereum is currently trading with a market cap of 206.80 billion with an average daily volume of 6.10 billion.