Ether cryptocurrency trades up $16.73, approximately 0.81% higher going into tomorrow

After ending the previous trading day at $2,075.65, Ether went up to $2,119.74 only to drop back; still positive overall today, now trading at $2,092.39.

Ethereum made an initial breakout above its 5 day Simple Moving Average at $2,093.63, a potential indicator of a newly emerging bullish phase. On the other hand, note that ETH price action is currently oscillating around the $2,109.52 resistance level with prices moving above and below several times during the session. First developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In Ether's case, the RSI has fallen below 30, indicating the asset is oversold.

Overall, looking at the technical analysis landscape, it seems ETH likely to continue pointing upward in the short term.

Other markets are also showing gains as FTX Token gained 9.54% and is currently trading at $1.36. Bitcoin is up 3.36%. Having closed the previous session at $8.17, Chainlink USD is up 5.26% today to currently trade at around $8.6.

This year has been a bright one for Ethereum after trading as low as $993.77 and going on to appreciate by 73.19% year to date. Ether has a market cap of 249.76 billion with an average daily volume of 9 billion.