| 
March 02, 2023ETH is grinding lower from $1,663.33 to $1,644.2, shedding $19.13 (1.15%) today.
Ethereum made an initial break below its 3 day Simple Moving Average at $1,639.77, a possible indication of a forthcoming negative trend. Ethereum's upper Bollinger Band® is at $1,743 which indicates a further downward move may follow. In contrast, Ethereum could begin to recover as it approaches significant support, now $3.51 away from $1,640.69. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Ether is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, Tezos USD closed at $1.15 (down 4.19%). EOS closed at $1.17 (down 2.94%).
Positive performances can be seen by looking at other markets as FTX Token jumps 9.54% to trade around $1.36.
Ethereum has gained 37.14% since its lowest print of $993.77 earlier this year. Ethereum has a market cap of 201.21 billion with an average daily volume of 7.19 billion.
