Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $16.68 to $16.83 range

AVAX slides down from $16.83 to $16.72 today, losing $0.11 (0.65%).

With regards to technical trend indicators, chart analysis show that Avalanche made an initial break below its 3 day Simple Moving Average at $16.77, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that AVAX's upper Bollinger Band® is at $20.58 and the lower is $15.23. Chart analysis suggests Avalanche reversed direction at $16.64 support zone and climbed 8 cents above it.

With market volatility ebbing, the current technical outlook indicates Avalanche will remain range-bound for the immediate future.

While Avalanche is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. UNICORN Token USD is trading around $6.43 (down $0.197). Cardano retreats 1.33% to trade around $0.386.

Having set a significant high of $67.09 11 months ago, Avalanche is trading 74.92% lower. Avalanche is currently trading with a market cap of 5.50 billion with an average daily volume of 228.67 million.