ETH trades at $1,267.74 after gaining $49.93 (4.1%).
Technical analysis trend indicators suggest that investors are seeking long positions as Ethereum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,292.47, thereby suggesting that ETH is becoming overvalued. Technical analysis of ETH’s past price action reveals multiple support and resistance levels: Ether broke through the $1,243 resistance and climbed above it $24.61; next resistance level is at $1,270.3.
Notwithstanding Ether’s appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as having closed the previous session at $1.61, NEAR Protocol is up 6.64% today to currently trade at around $1.72. Bitcoin added 2.62% to its value, now trading at $16,900. Having closed the previous session at $1.3, FTX Token is up 4.21% today to currently trade at around $1.36.
ETH reached a significant high of $4,655.81 around a year ago but has lost 73.84% since then. ETH has a market cap of 155.14 billion with an average daily volume of 1.53 billion.