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May 22, 2023Ethereum is down to $1,798.38, after ending today at $1,805. Overall, a 0.37% loss or $6.62 today.
Bollinger Bands® shows an indication of recovery: the lower band is at $1,741.78, a low enough level to, generally, suggest that Ethereum is trading below its fair value. Ethereum could begin to recover as it approaches significant support, now $3.11 away from $1,801.48. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems ETH —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Ripple is down to $0.454, losing $0.005, after closing at $0.458 in the preceding trading session.
Other assets are showing positive performances as FTX Token gained 9.54% and is currently trading at $1.36.
Ethereum has fallen back around 14.86% over the past a month, from a notable high of $2,120. ETH is currently trading with a market cap of 216.29 billion with an average daily volume of 6.91 billion.
