Mixed sentiment leads Ethereum cryptocurrency to trade sideways; establishes tight $1,661 to $1,663.75 range

Ether trades at $1,661, after ending today at $1,662.73.

With regards to technical trend indicators, chart analysis show 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, ETH's upper Bollinger Band® is at $1,981.63 and the lower is $1,624.53.

Overall, technical indicators suggest Ether has no obvious direction for the immediate future.

At the same time, mixed performances are seen elsewhere as FTX Token added 9.54% to its value, now trading at $1.36.

2 months ago ETH reached a significant high of $2,120 but has consequently lost 21.57% since then. ETH is currently trading with a market cap of 199.69 billion with an average daily volume of 6.19 billion.