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May 19, 2023
Ethereum posts light gains on a low-volatility day, ranging between $1,797.43 – $1,808.49 and is now at $1,808.49.
Ethereum's lower Bollinger Band® is at $1,745.19, indicating that the market is oversold and fertile for new buyers. In contrast, ETH could be slowing down soon as it approaches resistance at $1,826.53. Of course, crossing it might suggest further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts ETH to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Ether is expected to pick up significant bullish sentiment in the coming days.
Other markets are also showing gains as FTX Token rallies 9.54% to trade around $1.36. Litecoin increases 2.31% to trade around $92.54.
Meanwhile, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.
Having set a significant high of $2,120 a month ago, Ether is trading 15.13% lower. Ether is currently trading with a market cap of 217.52 billion with an average daily volume of 7.29 billion.
