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April 17, 2023
Ether is grinding lower from $2,118.61 to $2,082, shedding $36.61 (1.73%) today.
Ethereum made an initial break below its 5 day Simple Moving Average at $2,086.18, a possible indication of a forthcoming negative trend. Ethereum's upper Bollinger Band® is at $2,159.26 which indicates a further downward move may follow. On the other hand, note that ETH could begin to recover as it approaches significant support, now $26.82 away from $2,055.19. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Ethereum.
In the meantime, negative performances are also seen in other markets, Algorand USD is down to $0.222, losing $0.013, after closing at $0.235 in the preceding trading session. Bitcoin is trading around $29,531 (down $769.17).
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Ether has gained 76.51% since its lowest print of $993.77 earlier this year. Ether has a market cap of 248.67 billion with an average daily volume of 9 billion.
