| 
May 10, 2023
Trading lower, ETH is currently down $7 as it ranges between $1,802.18 and $1,886.8 so far today.
Following today's trading session, chart analysis suggests Ethereum reversed direction at $1,812.26 support zone and climbed $28.86 above it. With regards to technical trend indicators, chart analysis show that despite being in the red so far in the current trading session, Ethereum peaked above its 50 day Simple Moving Average around $1,880.68 — typically an early indicator of a new bullish trend beginning to emerge. Ethereum bounced $29.44 away from Fibonacci support at $1,811.68. According to asset volatility analysis, ETH's upper Bollinger Band® is at $1,947.38 which indicates a further downward move may follow.
With market volatility ebbing, the current technical outlook indicates Ethereum will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Bitcoin Cash is down $6.28 from the beginning of the session and now trades around $115.7.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cosmos USD gained 5.77% and is currently trading at $10.98.
Ether has gained 55.52% since its lowest print of $993.77 earlier this year. Ether is currently trading with a market cap of 221.52 billion with an average daily volume of 8.76 billion.
