Tentatively higher from an earlier low of $1,165.75, Ethereum is up to $1,208.62 today, adding $40.39, or 3.46%, to today's closing price of $1,168.23.
Ethereum made an initial breakout above its 5 day Simple Moving Average at $1,222.32, a potential indicator of a newly emerging bullish phase. Ether's lower Bollinger Band® is at $1,165.73, indicating that the market is oversold and fertile for new buyers. On the other hand, note that ETH reversed direction at $1,199.24 resistance zone and retreated back $9.38 below it.
Ether continues to move higher with technical analysis indicating the trend will continue in the short term.
Ethereum shows positive signs, other assets are also on par: Binance Coin is up 3.59%. Dogecoin climbs 4.4% to trade around $0.075. EOS is up 3.45%.
Ether is now trading 71.57% below the significant high of $4,109 it set around 11 months ago. Ethereum is currently trading with a market cap of 147.90 billion with an average daily volume of 955.54 million.