Ether got off to a strong start by gaining $35.52 (+2.92%), only to run out of steam later in the session around $1,251.32. Currently, Ether is trading around the $1,250 level.
Ethereum broke through the $1,221.72 resistance, climbing $28.26 above it. ETH made an initial breakout above its 50 day Simple Moving Average at $1,222.49, a potential indicator of a newly emerging bullish phase. Crossed the $1,223 Fibonacci level, next level is at $1,295.59. Ethereum has crossed the upper Bollinger Band® at $1,245.63, a potential sign that further gains are to follow.
Overall, looking at the technical analysis landscape, it seems ETH might continue pointing upwards in the short term.
Ether shows positive signs, other assets are also on par: NEAR Protocol is up 10.49%. Binance Coin ascends 3.53% to trade around $254.8. Cardano is up 4.72%.
Ethereum has fallen back around 68.2% from the significant high of $3,819 set a year ago. Ether has a market cap of 152.96 billion with an average daily volume of 721.31 million.