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April 04, 2023A mostly flat day so far for Ether, ranging between $1,804 and $1,814; currently at $1,808.36.
Price action remains constrained around the key Fibonacci level of $1,807.23 currently serving as support. If price action breaks below, the next Fib hurdle is $1,663. Ethereum's upper Bollinger Band® is at $1,839.64, suggesting that a downward move may follow. On the other hand, note that Ethereum is approaching key support, around $51.29 away from $1,757. 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.
Despite the market lacking direction, technical chart analysis strongly suggests Ether is positioned for a downward move in the near term.
Other markets show mixed performance as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Dogecoin moves up 2% to trade around $0.097. UNICORN Token USD gained 1.62% and is now trading at $6.47.
This year has been a bright one for Ether after trading as low as $993.77 and going on to appreciate by 48.16% year to date. Ethereum has a market cap of 217.83 billion with an average daily volume of 9.79 billion.
