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April 25, 2023
ETH remains constrained within a $1,815.76 to $1,849.77 range and is currently trading around the $1,817.69 level.
Bollinger Bands® shows an indication of recovery: the lower band is at $1,732.38, a low enough level to, generally, suggest that Ethereum is trading below its fair value. Ethereum could begin to recover as it approaches significant support, now $11.19 away from $1,806.5. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Ethereum —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. After ending today's session at $0.989, MaticNetwork USD lost $0.026 and is trading around $0.963.
Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36.
This year has been a bright one for Ether after trading as low as $993.77 and going on to appreciate by 52.98% year to date. Ethereum is currently trading with a market cap of 218.86 billion with an average daily volume of 9.51 billion.
