Without a clear-cut direction, Ether is trading around $1,861.19 and ranging between $1,857 and $1,878.79.
Ethereum made an initial breakout above its 5 day Simple Moving Average at $1,868.54, a potential indicator of a newly emerging bullish phase. Ether is approaching key support, around $19.39 away from $1,841.81. 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. In contrast, Ethereum's upper Bollinger Band® is at $1,909.34, suggesting that a downward move may follow.
With market volatility ebbing, the current technical outlook indicates Ethereum will break higher above its recent ranges in the immediate future.
While Ether is pretty flat so far today, mixed performances are seen elsewhere as FTX Token soars 9.54% to trade around $1.36. Ripple closed at $0.507 (down 1.12%). After ending today's session at $2, NEAR Protocol lost $0 and is trading around $2.
This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 54.39% year to date. Ethereum is currently trading with a market cap of 224.20 billion with an average daily volume of 9.18 billion.