Ether up $54.27 to $1,717 building up on its four days of gains

Ether rallies $54.27 (3.27%) deep into the session, trading at $1,717.

Ethereum made an initial breakout above its 5 day Simple Moving Average at $1,691.58, a potential indicator of a newly emerging bullish phase. ETH's lower Bollinger Band® is at $1,639, indicating that the market is oversold and fertile for new buyers. In contrast, Ether could be slowing down soon as it approaches resistance at $1,747.39. Of course, crossing it might suggest further gains are ahead.

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

Other markets are also showing gains as FTX Token is up 9.54% to $1.36. Bitcoin is up 3.2%. Bitcoin Cash gained 3.33% and is currently trading at $108.04.

ETH has fallen back around 21.57% over the past 2 months, from a notable high of $2,120. Ethereum is currently trading with a market cap of 206.42 billion with an average daily volume of 6.18 billion.