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April 11, 2023
After ending today at $1,910, Ether ascended as high as $1,933.75 before meeting resistance. Undeterred, Ether posted a fresh rally late in the trading session targeting $1,915.8.
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, Ether's upper Bollinger Band® is at $1,937.37, suggesting that a downward move may follow. Analysis of Ethereum's recent price action suggests ETH is climbing away and is now $59.78 from the $1,856 support line.
Overall, while ETH has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
While Ethereum is pretty flat so far today, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36. Solana gained 6.44% and is now trading at $22.25. Having closed the previous session at $318.54, Binance Coin is up 3.48% today to currently trade at around $329.63.
This year has been a bright one for ETH after trading as low as $993.77 and going on to appreciate by 55.92% year to date. Ether has a market cap of 230.77 billion with an average daily volume of 8.65 billion.
