Ether posts light gains on a low-volatility day, ranging between $1,269.41 – $1,293 and is now at $1,291.
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. Asset volatility analysis shows that Ethereum's upper Bollinger Band® is at $1,303, this is a slight indication of a slowdown. Visual analysis of ETH's chart shows that after reaching the known resistance zone beginning at $1,297, ETH price action retreated approximately $5.87.
Overall, while ETH has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets are also showing gains as FTX Token is up 4.53%. Having closed the previous session at $5.4, Polkadot is up 3.26% today to currently trade at around $5.58.
Meanwhile, after ending today's session at $0.397, Ripple lost $0.007 and is trading around $0.39.
Ethereum has shed $3,277.78 points and is languishing 72% lower over the past year, leaving its yearly highs around $4,554.24 in the rear-view mirror. Ethereum has a market cap of 157.99 billion with an average daily volume of 1.23 billion.