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February 28, 2023
After dipping down to $1,619.55, Ether regains earlier losses and reaches $1,639.75.
Although up today, early price action saw Ethereum dropping below its 21 day Simple Moving Average at $1,618.32 — an early indicator that a new downward trend could be emerging. Ether's upper Bollinger Band® is at $1,744, this is a slight indication of a slowdown. Ether reversed direction at $1,637.37 resistance zone and retreated back $2.38 below it.
Examining the technical analysis landscape, ETH is likely to reverse course and start pointing downward in the short term.
Ethereum shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. EOS is up 4.28%.
At the same time, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 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 35.41% year to date. Ether is currently trading with a market cap of 200.66 billion with an average daily volume of 6.62 billion.
