Mixed sentiment leads Avalanche cryptocurrency to trade sideways; establishes tight $11.3 to $11.49 range

Avalanche is now trading at $11.36 after tracing out a steady $11.3 – $11.49 range today.

Avalanche is approaching key support, around 18 cents away from $11.19. 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. AVAX made an initial breakout above its 3 day Simple Moving Average at $11.58, a potential indicator of a newly emerging bullish phase. AVAX's upper Bollinger Band® is at $15.89 and the lower is $10.46.

Despite muted price action in AVAX, chart analysis indicates it is positioned for a bullish run in the short term.

While AVAX is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ripple is down to $0.465, losing $0.014, after closing at $0.479 in the preceding trading session. EOS closed at $0.62 (down 2.89%).

AVAX is now trading 61.23% below the significant high of $29.36 it set around 10 months ago. AVAX has a market cap of 3.92 billion with an average daily volume of 149 million.