Mixed sentiment leads Avalanche cryptocurrency to trade sideways; establishes tight $14.69 to $15.04 range

After dropping down to $14.69, Avalanche recovers some losses and is currently trading at $15.03.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Avalanche's upper Bollinger Band® is at $18.44 and the lower is $14.66. Avalanche's notable support and resistance levels: Avalanche is currently alternating around $14.7 with price action moving above and below this key level throughout the session.

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

While Avalanche 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. TRON is up 1.68%. Bitcoin closed at $26,568 (down 1.56%).

Avalanche is now trading 59.07% below the significant high of $36.52 it set around 11 months ago. Avalanche is currently trading with a market cap of 4.99 billion with an average daily volume of 154.68 million.