Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $14.52 to $14.68 range

AVAX is now trading at $14.54 after tracing out a steady $14.52 – $14.68 range today.

Avalanche's upper Bollinger Band® is at $14.96, suggesting that a downward move may follow. In contrast, Avalanche is approaching key support, around 47 cents away from $14.07. 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.

Despite the market lacking direction, technical chart analysis strongly suggests Avalanche is positioned for a downward move in the near term.

Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD closed at $6.43 (down 2.98%). Cardano is down $0.005 from the beginning of the session and now trades around $0.348.

Avalanche reached a significant high of $29.36 around 9 months ago but has lost 50.27% since then. AVAX is currently trading with a market cap of 5 billion with an average daily volume of 125.56 million.