Ether cryptocurrency trades up $22.02, approximately 1.2% higher this afternoon

Tentatively higher from an earlier low of $1,831, ETH is up to $1,854.63 today, adding $22.02, or 1.2%, to today's closing price of $1,832.6.

Technical analysis trend indicators suggest that Ethereum made an initial breakout above its 50 day Simple Moving Average at $1,856.58, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,927.65, thereby suggesting that Ether is becoming overvalued. Technical chart analysis shows Ethereum could be slowing down soon as it approaches resistance at $1,876. Of course, crossing it might suggest further gains are ahead.

Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

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 rises 3.36% to trade around $0.891. Binance Coin is up 2.45% to $265.53.

Over the past a month, ETH has retreated 13.56% from a noteworthy peak of $2,120. Ethereum is currently trading with a market cap of 222.98 billion with an average daily volume of 5.65 billion.