Mixed sentiment leads Ether cryptocurrency to trade sideways; establishes tight $1,566.52 to $1,575.36 range

A mostly flat day so far for ETH, ranging between $1,566.52 and $1,575.36; currently at $1,568.69.

Ethereum is approaching key support, around $40.88 away from $1,527.81. 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. Ethereum's upper Bollinger Band® is at $1,734 and the lower is $1,520.3.

Despite muted price action in ETH, chart analysis indicates it is positioned for a bullish run in the short term.

Other markets show mixed performance as FTX Token surges 9.54% to trade around $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. TRON trades around $0.067, with no major change.

This year has been a bright one for ETH after trading as low as $993.77 and going on to appreciate by 30% year to date. Ether is currently trading with a market cap of 191.97 billion with an average daily volume of 7.64 billion.