Mixed sentiment leads Avalanche cryptocurrency to trade sideways; establishes tight $17.47 to $17.61 range

A mostly flat day so far for AVAX, ranging between $17.47 and $17.61; currently at $17.59.

Technical analysis trend indicators suggest that Avalanche made an initial break below its 50 day Simple Moving Average at $17.52, a possible indication of a forthcoming negative trend. According to asset volatility analysis, AVAX's upper Bollinger Band® is at $20.74 and the lower is $15.86. A study of AVAX's chart reveals various key levels to watch: Avalanche is approaching key support, around 25 cents away from $17.34. 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.

All in all, the technical analysis suggests AVAX has no clear-cut direction.

At the same time, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. TRON is up 1%. Having closed the previous session at $118.13, Bitcoin Cash is up 0.98% today to currently trade at around $119.29.

Over the past 11 months, Avalanche has retreated 73.84% from a noteworthy peak of $67.09. Avalanche has a market cap of 5.76 billion with an average daily volume of 221.73 million.