Ethereum cryptocurrency trades up $57.61, approximately 3.44% higher this afternoon

After closing the previous trading day at $1,676, Ethereum is up to $1,733.61, which makes for a move of 3.44%/$57.61 today.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, ETH's upper Bollinger Band® is at $1,740, this is a slight indication of a slowdown.

Overall, while ETH has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Other markets are also showing gains as Bitcoin is up 6.08%. FTX Token gained 9.54% and is currently trading at $1.36. Litecoin is up 5.32%.

ETH has managed to gain 38.77% so far this year despite trading at lows around $993.77 previously. ETH is currently trading with a market cap of 212.15 billion with an average daily volume of 8 billion.