Without a clear-cut direction, Ether is trading around $1,347 and ranging between $1,337.49 and $1,350.35.
Visual analysis of Ethereum's chart shows that Ethereum is approaching key support, around $15.34 away from $1,331.52. 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-focused traders would be interested to note that investors are seeking long positions as Ether price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Ethereum's upper Bollinger Band® is at $1,364.18, suggesting that a downward move may follow.
Notwithstanding Ether's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Meanwhile, mixed performances are seen elsewhere as Ripple goes down 1.42% to trade around $0.447.
ETH is now trading 72.12% below the significant high of $4,822 it set around 11 months ago. ETH has a market cap of 164.82 billion with an average daily volume of 1 billion.