Currently trading at $1,298.65, Ether remains range-bound between $1,260.72 and $1,298.65.
Technical chart analysis shows Ethereum could be slowing down soon; it is getting close to the resistance line and is now at $1,305.77, only $7.12 away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend-focused traders would be interested to note that ETH made an initial breakout above its 10 day Simple Moving Average at $1,295, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,361, thereby suggesting that ETH is becoming overvalued.
All in all, the technical analysis suggests Ethereum has no clear-cut direction.
ETH shows positive signs, other assets are also on par: EOS rises 1.55% to trade around $1.06.
Approximately 11 months ago, Ether reached a significant high of $4,822 but has struggled to hold onto its gains and declined 73.39% since then. ETH is currently trading with a market cap of 158.92 billion with an average daily volume of 1.15 billion.