Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $17.46 to $17.57 range

Tentatively higher from an earlier low of $17.46, AVAX is up to $17.54 today, adding $0.081, or 0.46%, to today's closing price of $17.46.

Avalanche's upper Bollinger Band® is at $18.18, suggesting that a downward move may follow. Despite this, AVAX is approaching key support, around 21 cents away from $17.33. 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 AVAX is positioned for a downward move in the near term.

At the same time, mixed performances are seen elsewhere as FTX Token gained 9.54% and is currently trading at $1.36. EOS is up 1.26%. Polkadot increases 1.31% to trade around $6.22.

A year ago AVAX reached a significant high of $84.53 but has consequently lost 79.35% since then. Avalanche has a market cap of 5.72 billion with an average daily volume of 173.54 million.