Mixed sentiment leads Ethereum cryptocurrency to trade sideways; establishes tight $1,739.73 to $1,746.33 range

ETH is now trading at $1,744 after tracing out a steady $1,739.73 – $1,746.33 range today.

Ethereum made an initial breakout above its 3 day Simple Moving Average at $1,742.79, a potential indicator of a newly emerging bullish phase. Ethereum's upper Bollinger Band® is at $1,957.38 and the lower is $1,708. Ether is approaching key support, around $16.35 away from $1,727.8. 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.

Overall, looking at the technical analysis landscape, it seems ETH might be pointing upward in the short term.

Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54%. Binance Coin increases 2.17% to trade around $249.28. Tezos USD is up 1.63% to $0.735.

ETH reached a significant high of $2,120 around a month ago but has lost 17.93% since then. ETH is currently trading with a market cap of 209.69 billion with an average daily volume of 6 billion.