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June 15, 2023
ETH fell to a new low at $1,646.78 today, its lowest value in 3 months and a half; today ended at $1,650.
As the day gets underway, chart analysis suggests Ethereum is approaching key support, around $18.06 away from $1,633. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, ETH's upper Bollinger Band® is at $1,986.81 and the lower is $1,644.67.
Overall, technical indicators suggest Ether has no obvious direction for the immediate future.
Other markets show mixed performance as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Tezos USD is up 2.68%. TRON gained 0.92% and is currently trading at $0.072.
Ether reached a significant high of $2,120 around 2 months ago but has lost 22.18% since then. Ether has a market cap of 198.48 billion with an average daily volume of 5.99 billion.
