ETH posts light gains on a low-volatility day, ranging between $2,077.7 – $2,109 and is now at $2,103.62.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Ethereum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates ETH is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $2,102, thereby suggesting that ETH is becoming overvalued. Chart analysis indicates Ethereum could be slowing down soon as it approaches resistance at $2,150. Of course, crossing it might suggest further gains are ahead.
Notwithstanding Ethereum's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
ETH shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.438, Cardano is up 4.88% today to currently trade at around $0.459. NEAR Protocol gained 5.43% and is currently trading at $2.34.
Ether has managed to gain 76.19% so far this year despite trading at lows around $993.77 previously. Ethereum is currently trading with a market cap of 252.67 billion with an average daily volume of 8.84 billion.