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July 03, 2023
Ether trades at $1,963 after gaining $25.54 (1.32%).
Technical analysis of ETH's past price action reveals multiple support and resistance levels: Ethereum broke through the $1,960 resistance and climbed $3.19 above it. Trend analysis indicates that investors are seeking long positions as Ethereum price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $2,011.56, thereby suggesting that ETH is becoming overvalued.
Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. TRON is up 2.17%.
At the same time, after ending today's session at $113.08, Litecoin lost $3.64 and is trading around $109.44.
Ethereum has gained 58.34% since its lowest print of $1,036.56 earlier this year. Ether is currently trading with a market cap of 236 billion with an average daily volume of 6.99 billion.
