Mixed sentiment leads Ether cryptocurrency to trade sideways; establishes tight $1,559 to $1,568 range

A mostly flat day so far for Ether, ranging between $1,559 and $1,568; currently at $1,563.51.

As the trading day commences, technical analysis suggests Ethereum is oscillating around the $1,559.22 level serving as support. Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Ether's upper Bollinger Band® is at $1,722.28 and the lower is $1,541.38.

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

Meanwhile, 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. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. After ending today's session at $0.227, Algorand USD lost $0.004 and is trading around $0.223.

Ethereum has fallen back around 55.49% over the past 11 months, from a notable high of $3,515. Ether has a market cap of 191.33 billion with an average daily volume of 7.45 billion.