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Trading Signals

Mixed sentiment leads ETH cryptocurrency to trade sideways; establishes tight $1,850 to $1,864.24 range

10 April 2023

ETHUSD

A mostly flat day so far for Ether, ranging between $1,850 and $1,864.24; currently at $1,855.

Support/Resistance levels obtained from chart analysis indicate that Ethereum is approaching key support, around $18.98 away from $1,836. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Concerning technical analysis and more specifically, trend indicators, Ether made an initial breakout above its 5 day Simple Moving Average at $1,860.28, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Ethereum's upper Bollinger Band® is at $1,915, suggesting that a downward move may follow.

Overall, while Ethereum has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

While ETH is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD is up 1.62%. Polkadot is trading around $6.16 (down $0.056).

This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 54.57% year to date. Ethereum has a market cap of 223.46 billion with an average daily volume of 8.79 billion.

Market Summary

Latest Crypto News

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LTC cryptocurrency trades up $0.62, approximately 0.74% higher going into tomorrow

Solana set for weak finish today; down 2.45% to $21.74 with a hour before close

Bitcoin Cash down $3.19 reaching $113, for its 4th straight negative day

Passive Asia-Pacific markets defy bearish US sentiment

FTX cryptocurrency trades up $0.119, approximately 9.54% higher this afternoon

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