Ether cryptocurrency trades up $12.22, approximately 0.65% higher going into tomorrow

Tentatively higher from an earlier low of $1,888, ETH is up to $1,904.75 today, adding $12.22, or 0.65%, to today's closing price of $1,892.53.

Ethereum made an initial breakout above its 3 day Simple Moving Average at $1,902, a potential indicator of a newly emerging bullish phase. In contrast, after reaching the known resistance zone beginning at $1,918.45, Ethereum price action retreated approximately $13.7.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Ethereum to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Ethereum is expected to pick up significant bullish sentiment in the coming days.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.067, TRON is up 2.16% today to currently trade at around $0.068. Bitcoin Cash improves 1.4% to trade around $119.79.

This year has been a bright one for ETH after trading as low as $993.77 and going on to appreciate by 57.87% year to date. Ethereum is currently trading with a market cap of 229.33 billion with an average daily volume of 9.91 billion.