Mixed sentiment leads Ether cryptocurrency to trade sideways; establishes tight $1,563.75 to $1,579 range

Without a clear-cut direction, Ethereum is trading around $1,568.44 and ranging between $1,563.75 and $1,579.

Ethereum is approaching key support, around $11.14 away from $1,557.3. 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 made an initial breakout above its 5 day Simple Moving Average at $1,584.4, a potential indicator of a newly emerging bullish phase. Ether's upper Bollinger Band® is at $1,715.2 and the lower is $1,536.29.

Although price action remains in a stalemate, technical analysis suggests Ether could be primed for a break to the upside.

While Ethereum 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. Algorand USD is down $0.005 from the beginning of the session and now trades around $0.221. EOS is down to $1.19, losing $0.017, after closing at $1.21 in the preceding trading session.

Over the past 11 months, ETH has retreated 55.42% from a noteworthy peak of $3,515. Ether has a market cap of 191.94 billion with an average daily volume of 7.26 billion.