Mixed sentiment leads Avalanche cryptocurrency to trade sideways; establishes tight $14.39 to $14.8 range

Without a clear-cut direction, Avalanche is trading around $14.5 and ranging between $14.39 and $14.8.

Concerning technical analysis and more specifically, trend indicators, Avalanche made an initial breakout above its 21 day Simple Moving Average at $14.89, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Avalanche's upper Bollinger Band® is at $15.45, suggesting that a downward move may follow. Analysis of Avalanche's recent price action suggests Avalanche bounced after reaching the $14.32 support zone, climbing 19 cents above it.

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

While AVAX is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. Having closed the previous session at $0.367, Cardano is up 2.58% today to currently trade at around $0.376. Bitcoin is up 1.48%.

9 months ago AVAX reached a significant high of $29.36 but has consequently lost 50.43% since then. AVAX is currently trading with a market cap of 4.85 billion with an average daily volume of 124.12 million.