Ethereum trades at $1,503.43, after ending today at $1,506.42.
As the trading day commences, technical analysis suggests Ethereum is approaching key support, around $39.28 away from $1,464. 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. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Ethereum's upper Bollinger Band® is at $1,709.2 and the lower is $1,476.28.
Overall, technical indicators suggest Ether has no obvious direction for the immediate future.
While ETH is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $0, UNICORN Token USD is up 2,591,824% today to currently trade at around $6.27. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ripple is down to $0.367, losing $0.004, after closing at $0.371 in the preceding trading session.
This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 23.51% year to date. Ether has a market cap of 183.98 billion with an average daily volume of 2.36 billion.