| 
June 25, 2023
After ending the previous trading day at $1,876.61, ETH went up to $1,915.22 only to drop back; still positive overall today, now trading at $1,909.78.
Although up today, early price action saw Ethereum dropping below its 5 day Simple Moving Average at $1,873 — an early indicator that a new downward trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,952.76, thereby suggesting that ETH is becoming overvalued. Despite this, Ethereum broke through the $1,905.48 resistance and climbed above it $4.31; next resistance level is at $1,922.26.
Despite basking in an uptrend and bullish intraday sentiment, chart analysis indicates Ethereum is set for a reversal in the coming days.
Other markets are also showing gains as FTX Token is up 9.54%. UNICORN Token USD climbs 7.29% to trade around $5.08.
Meanwhile, Bitcoin Cash is down to $206.39, losing $7.91, after closing at $214.31 in the preceding trading session.
ETH has gained 58% since its lowest print of $1,036.56 earlier this year. Ether has a market cap of 229.54 billion with an average daily volume of 6.39 billion.
