Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $13.77 to $14.22 range

A mostly flat day so far for Avalanche, ranging between $13.77 and $14.22; currently at $13.96.

Avalanche's upper Bollinger Band® is at $14.96, suggesting that a downward move may follow. Despite this, AVAX is approaching key support, around 10 cents away from $13.86. 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. AVAX made an initial breakout above its 5 day Simple Moving Average at $14.11, a potential indicator of a newly emerging bullish phase.

Although price action remains in a stalemate, technical analysis suggests AVAX could be primed for a break to the downside.

Other markets show mixed performance as FTX Token is up 9.54% to $1.36. Cardano closed at $0.302 (down 6.31%). After ending today's session at $0.782, MaticNetwork USD lost $0.045 and is trading around $0.737.

AVAX has fallen back around 52.55% from the significant high of $29.36 set 9 months ago. AVAX is currently trading with a market cap of 4.82 billion with an average daily volume of 126.22 million.