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April 14, 2023
While today ended at $2,012.61, today, ETH rallied above $2,124.43 for the first time in 11 months and gained $108.12 — now trading at $2,120.73.
Chart analysis suggests Ethereum broke through the $2,052 resistance, climbing $68.65 above it. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Ether is in an overbought condition. According to asset volatility analysis, Ether's upper Bollinger Band® is at $2,053.25, this is a slight indication of a slowdown.
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 is up 9.54% to $1.36. Ripple gained 5.26% and is now trading at $0.54. Having closed the previous session at $94.25, Litecoin is up 4.41% today to currently trade at around $98.4.
Ethereum has gained 67.28% since its lowest print of $993.77 earlier this year. Ether has a market cap of 254.94 billion with an average daily volume of 8.12 billion.
