After closing at $1,199 today, Ethereum began today at $1,199 with significant bullish sentiment driving Ethereum's price action higher. So far today, price action has drawn out a distinct $1,198.26 to $1,222.6 range.
The MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. In contrast, Ether could be slowing down soon as it approaches resistance at $1,216.7. Of course, crossing it might suggest further gains are ahead.
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: Litecoin added 5.5% to its value, now trading at $78.12. Binance Coin is up 4.18%. Dogecoin is up 2.86%.
11 months ago Ethereum reached a significant high of $4,655.81 but has consequently lost 74.25% since then. ETH is currently trading with a market cap of 148.88 billion with an average daily volume of 1.85 billion.