Mixed sentiment leads Ether cryptocurrency to trade sideways; establishes tight $1,857.43 to $1,863.49 range

Ethereum is now trading at $1,861.29 after tracing out a steady $1,857.43 – $1,863.49 range today.

Ethereum's upper Bollinger Band® is at $1,949, suggesting that a downward move may follow. In contrast, ETH is approaching key support, around $27.57 away from $1,833.72. 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 ETH is positioned for a downward move in the near term.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. Bitcoin Cash is down to $219.43, losing $3.47, after closing at $222.9 in the preceding trading session. TRON moves 0.31% to trade around $0.074.

This year has been a bright one for Ether after trading as low as $1,036.56 and going on to appreciate by 54.89% year to date. Ether is currently trading with a market cap of 223.70 billion with an average daily volume of 6.56 billion.