Tentatively higher from an earlier low of $1,570, Ether is up to $1,588.65 today, adding $17.35, or 1.1%, to today's closing price of $1,571.3.
Technical analysis trend indicators suggest that Ethereum made an initial breakout above its 3 day Simple Moving Average at $1,588.65, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that ETH's upper Bollinger Band® is at $1,673.28, this is a slight indication of a slowdown. A study of Ethereum's historical price actions shows Ether could be slowing down soon as it approaches resistance at $1,647.64. Of course, crossing it might suggest further gains are ahead.
Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Ethereum shows positive signs, other assets are also on par: Dogecoin gained 13.34% and is currently trading at $0.144. Polkadot is up 0.93% to $6.68.
At the same time, Ripple is down to $0.46, losing $0.004, after closing at $0.464 in the preceding trading session.
Ether is now trading 67.41% below the significant high of $4,822 it set around 11 months ago. Ether is currently trading with a market cap of 194.41 billion with an average daily volume of 1.61 billion.