Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $13.13 to $13.33 range

Tentatively higher from an earlier low of $13.13, AVAX is up to $13.21 today, adding $0.07, or 0.53%, to today's closing price of $13.14.

Analysis of Avalanche's recent price action suggests Avalanche is approaching key support, around 23 cents away from $12.98. 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. Technical analysis trend indicators suggest that Avalanche made an initial breakout above its 5 day Simple Moving Average at $13.18, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Avalanche's upper Bollinger Band® is at $13.95, suggesting that a downward move may follow.

Notwithstanding Avalanche's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

While Avalanche is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. Bitcoin Cash closed at $219.2 (down 1.66%). TRON rises 0.7% to trade around $0.074.

Having set a significant high of $29.36 10 months ago, AVAX is trading 55.24% lower. AVAX has a market cap of 4.56 billion with an average daily volume of 142.34 million.