After closing at $1,430 today, Ethereum began today at $1,430 with significant bullish sentiment driving Ethereum's price action higher. So far today, price action has drawn out a distinct $1,429.36 to $1,481.18 range.
Although Ethereum is appreciating today after rising as high as $1,481.18, price action is now slowing and consolidating around $5.55 below the $1,445 resistance level. Despite posting gains so far today, ETH slid below its 200 day Simple Moving Average at $1,422.22 in earlier trade — an early indicator that a negative trend could be emerging. In contrast, ETH's lower Bollinger Band® is at $1,408.6, indicating that the market is oversold and fertile for new buyers.
Technical analysis suggests there could be an imminent reversal for ETH.
Ether shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36.
Meanwhile, after ending today's session at $1.04, EOS lost $0.069 and is trading around $0.976. Litecoin closed at $67.57 (down 5.66%).
Having set a significant high of $3,515 11 months ago, ETH is trading 59.32% lower. Ether has a market cap of 176.17 billion with an average daily volume of 6.99 billion.