Mixed sentiment leads Ethereum cryptocurrency to trade sideways; establishes tight $1,731.62 to $1,753.69 range

Ethereum is now trading at $1,748.23 after tracing out a steady $1,731.62 – $1,753.69 range today.

Ethereum made an initial breakout above its 3 day Simple Moving Average at $1,759.66, a potential indicator of a newly emerging bullish phase. ETH's upper Bollinger Band® is at $1,955.39 and the lower is $1,718. Ethereum is approaching key support, around $26.44 away from $1,721.79. 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.

With market volatility ebbing, the current technical outlook indicates Ether will break higher above its recent ranges in the immediate future.

While Ethereum is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. TRON moves up 1.83% to trade around $0.072. Binance Coin is up 1.42%.

Over the past a month, Ether has retreated 17.8% from a noteworthy peak of $2,120. ETH is currently trading with a market cap of 210.18 billion with an average daily volume of 6 billion.