Without a clear-cut direction, ETH is trading around $1,333.58 and ranging between $1,330 and $1,340.24.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Ethereum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates Ether is currently 'overbought' which suggests new gains will be harder to obtain. Analysis based on the asset volatility indicates that Ether's upper Bollinger Band® is at $1,330, suggesting that a downward move may follow. A study of ETH's chart reveals various key levels to watch: ETH is approaching key support, around $14.87 away from $1,318.71. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Notwithstanding Ether's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
At the same time, mixed performances are seen elsewhere as Ripple is up 3.7%. FTX Token is trading around $1.2 (down $0.04). Cardano goes down 2.2% to trade around $0.315.
This year has been a bright one for Ether after trading as low as $993.77 and going on to appreciate by 10.44% year to date. Ethereum is currently trading with a market cap of 163.19 billion with an average daily volume of 643.11 million.