Mixed sentiment leads Avalanche cryptocurrency to trade sideways; establishes tight $14.33 to $14.46 range

Without a clear-cut direction, AVAX is trading around $14.42 and ranging between $14.33 and $14.46.

A study of Avalanche's historical price actions shows Avalanche is approaching key support, around 31 cents away from $14.12. 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. Trend and momentum analysis indicates that AVAX made an initial breakout above its 10 day Simple Moving Average at $14.47, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that AVAX's upper Bollinger Band® is at $15.53, suggesting that a downward move may follow.

Overall, technical indicators suggest AVAX has no obvious direction for the immediate future.

Other markets show mixed performance as FTX Token jumps 9.54% to trade around $1.36. TRON moves up 0.82% to trade around $0.076. Ripple is up 1.16% to $0.474.

Avalanche reached a significant high of $29.36 around 9 months ago but has lost 51.15% since then. AVAX is currently trading with a market cap of 4.83 billion with an average daily volume of 125.70 million.