Mixed sentiment leads ETH cryptocurrency to trade sideways; establishes tight $1,831.4 to $1,853 range

Without a clear-cut direction, Ether is trading around $1,852.36 and ranging between $1,831.4 and $1,853.

Trend analysis indicates that Ethereum made an initial breakout above its 5 day Simple Moving Average at $1,845, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Ether's upper Bollinger Band® is at $1,926.21, suggesting that a downward move may follow. A study of ETH's historical price actions shows Ether is approaching key support, around $20.48 away from $1,832. 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.

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

While ETH is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. Dogecoin is up 3.97%. Ripple is up 2.42%.

A month ago Ether reached a significant high of $2,120 but has consequently lost 12.87% since then. ETH has a market cap of 222.71 billion with an average daily volume of 5.63 billion.