ETH cryptocurrency trades up $11.31, approximately 0.65% higher this afternoon

Tentatively higher from an earlier low of $1,722.31, ETH is up to $1,738.31 today, adding $11.31, or 0.65%, to today's closing price of $1,727.

Ethereum made an initial breakout above its 10 day Simple Moving Average at $1,731.52, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $1,740.27 currently serving as resistance Ether's lower Bollinger Band® is at $1,636.6, indicating that the market is oversold and fertile for new buyers. On the other hand, note that ETH could be slowing down soon; it is getting close to the resistance line and is now at $1,753, only $14.74 away. Crossing the resistance line could, however, suggest that further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Ether might continue pointing upwards in the short term.

Ethereum shows positive signs, other assets are also on par: FTX Token rallies 9.54% to trade around $1.36. Ripple is up 2.56%.

Meanwhile, after ending today's session at $0.072, TRON lost $0.001 and is trading around $0.07.

Approximately 2 months ago, ETH reached a significant high of $2,120 but has struggled to hold onto its gains and declined 18.54% since then. Ethereum is currently trading with a market cap of 208.96 billion with an average daily volume of 6.26 billion.