ETH cryptocurrency trades up $6.43, approximately 0.39% higher this afternoon

ETH posts light gains on a low-volatility day, ranging between $1,633 – $1,662.58 and is now at $1,646.43.

Technical analysis shows that Ethereum broke through the $1,643 resistance and climbed $3.33 above it. Concerning technical analysis and more specifically, trend indicators, Ethereum made an initial breakout above its 10 day Simple Moving Average at $1,652.16, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,746.51, thereby suggesting that ETH is becoming overvalued.

Overall, the technical outlook suggests Ethereum is likely to remain muted for the immediate future, with no clear-cut direction.

Other markets are also showing gains as FTX Token leaps up 9.54% to trade around $1.36.

At the same time, UNICORN Token USD is trading around $6.43 (down $0.197). Binance Coin slumps 1.28% to trade around $304.61.

Ethereum has gained 36.3% since its lowest print of $993.77 earlier this year. Ethereum has a market cap of 201.48 billion with an average daily volume of 6.32 billion.