| 
June 29, 2023Ether trades at $1,855.34 after gaining $26.96 (1.47%).
With regards to technical trend indicators, chart analysis show that Ethereum made an initial breakout above its 10 day Simple Moving Average at $1,863.62, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,956.17, thereby suggesting that Ether is becoming overvalued. As the trading day comes to an end, chart analysis indicates Ethereum could be slowing down soon as it approaches resistance at $1,871.63. Of course, crossing it might suggest further gains are ahead.
Notwithstanding Ethereum's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as having closed the previous session at $225.23, Bitcoin Cash is up 9.61% today to currently trade at around $246.88. Having closed the previous session at $15.98, Solana is up 11.04% today to currently trade at around $17.74. FTX Token is up 9.54% to $1.36.
Ether is now trading 13.76% below the significant high of $2,120 it set around 2 months ago. Ethereum is currently trading with a market cap of 223 billion with an average daily volume of 6.80 billion.
