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April 05, 2023
Ethereum trades at $1,908.71 after gaining $38.71 (2.08%).
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, Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,915.8, thereby suggesting that ETH is becoming overvalued. As the trading day comes to an end, chart analysis indicates Ether reversed direction at $1,940.35 resistance zone and retreated back $31.64 below it.
Overall, while Ether 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 having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Binance Coin gained 1.15% and is now trading at $314.38.
Meanwhile, Dogecoin is down to $0.093, losing $0.002, after closing at $0.095 in the preceding trading session.
Ether has gained 55.56% since its lowest print of $993.77 earlier this year. Ethereum has a market cap of 229.92 billion with an average daily volume of 9.44 billion.
