Is it the end of Ether's rally? After three days of gains, it is down by 0.6% today

Ethereum drops from $1,934.82 to $1,923.17, losing $11.65 (0.6%) today.

Ethereum's upper Bollinger Band® is at $1,998 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 $57.56 away from $1,865.61. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Ethereum to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the ETH is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, Bitcoin Cash is down to $291.32, losing $15.39, after closing at $306.71 in the preceding trading session.

Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36. Having closed the previous session at $240.42, Binance Coin is up 2.72% today to currently trade at around $246.96.

This year has been a bright one for ETH after trading as low as $1,036.56 and going on to appreciate by 60.37% year to date. Ethereum has a market cap of 231.20 billion with an average daily volume of 7.22 billion.