Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $16.81 to $16.98 range

Without a clear-cut direction, Avalanche is trading around $16.92 and ranging between $16.81 and $16.98.

Concerning technical analysis and more specifically, trend indicators, Avalanche made an initial break below its 3 day Simple Moving Average at $16.82, a possible indication of a forthcoming negative trend. According to asset volatility analysis, AVAX's upper Bollinger Band® is at $20.77 and the lower is $15.77. As the day gets underway, chart analysis suggests AVAX is approaching key support, around 24 cents away from $16.68. 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.

Overall, technical indicators suggest Avalanche has no obvious direction for the immediate future.

While AVAX is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. UNICORN Token USD retreats 2.98% to trade around $6.43. MaticNetwork USD goes down 1.88% to trade around $0.971.

Over the past a year, Avalanche has retreated 76.75% from a noteworthy peak of $72.82. Avalanche is currently trading with a market cap of 5.53 billion with an average daily volume of 213.75 million.