Ethereum has been up for four days in a row, gaining $83.2 to reach $1,673.77.

Tentatively higher from an earlier low of $1,572, ETH is up to $1,673.77 today, adding $83.2, or 5.23%, to today's closing price of $1,590.57.

Ethereum made an initial breakout above its 50 day Simple Moving Average at $1,599, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Ether is oscillating around the key Fibonacci resistance level of $1,597.32. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $1,711, thereby suggesting that Ether is becoming overvalued. Ethereum broke through the $1,623 resistance and climbed $50.71 above it.

According to technical analysis, it looks as if Ether likely to continue pointing upward in the short term.

ETH shows positive signs, other assets are also on par: Bitcoin added 9.25% to its value, now trading at $24,230. Having closed the previous session at $290.52, Binance Coin is up 6.21% today to currently trade at around $308.55. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Ether reached a significant high of $3,515 around 11 months ago but has lost 54.75% since then. Ethereum has a market cap of 204.83 billion with an average daily volume of 7.56 billion.