Ethereum rallied to $2,008, hitting its highest point in 7 months. It later lost $11.21 and is now trading at $1,996.79.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Ether has just crossed its upper Bollinger Band® at $1,974, suggesting further gains could be on the cards. Ethereum broke through the $1,934.18 resistance and climbed above it $62.61; next resistance level is at $1,960.22.
Overall, looking at the technical analysis landscape, it seems ETH might continue pointing upwards in the short term.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS moves up 4.68% to trade around $1.27. Dogecoin gained 4.26% and is now trading at $0.087.
Ether has managed to gain 58.49% so far this year despite trading at lows around $993.77 previously. ETH is currently trading with a market cap of 240.53 billion with an average daily volume of 8.11 billion.