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April 10, 2023
A mostly flat day so far for ETH, ranging between $1,850 and $1,864.24; currently at $1,856.
Technical chart analysis shows Ethereum is approaching key support, around $19.73 away from $1,836. 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. Technical analysis trend indicators suggest that Ether made an initial breakout above its 5 day Simple Moving Average at $1,860.28, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Ethereum's upper Bollinger Band® is at $1,915.23, suggesting that a downward move may follow.
Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
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. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47. Polkadot is down to $6.15, losing $0.059, after closing at $6.21 in the preceding trading session.
Ether has managed to gain 54.57% so far this year despite trading at lows around $993.77 previously. Ether is currently trading with a market cap of 223.55 billion with an average daily volume of 8.79 billion.
