Mixed sentiment leads Ether cryptocurrency to trade sideways; establishes tight $1,533.59 to $1,543.63 range

Without a clear-cut direction, Ethereum is trading around $1,539 and ranging between $1,533.59 and $1,543.63.

Technical analysis of ETH's past price action reveals multiple support and resistance levels: Ethereum is approaching key support, around $23.37 away from $1,515.67. 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. Concerning technical analysis and more specifically, trend indicators, 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. Analysis based on the asset volatility indicates that Ethereum's upper Bollinger Band® is at $1,705 and the lower is $1,518.83.

Overall, the technical outlook suggests Ethereum is likely to remain muted for the immediate future, with no clear-cut direction.

At the same time, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. EOS added 3.98% to its value, now trading at $1.17. UNICORN Token USD closed at $6.43 (down 2.98%).

Having set a significant high of $3,515 11 months ago, ETH is trading 56.34% lower. Ether has a market cap of 188.34 billion with an average daily volume of 6.91 billion.