Mixed sentiment leads Ethereum cryptocurrency to trade sideways; establishes tight $1,902.61 to $1,925.3 range

ETH recovers back to $1,922.16 after dipping down to $1,902.61 today, in a session that followed a closing value of $1,919.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Ether's upper Bollinger Band® is at $1,956, suggesting that a downward move may follow. A study of ETH's historical price actions shows Ethereum is approaching key support, around $49.48 away from $1,872.68. 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.

Notwithstanding ETH's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

At the same time, 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. NEAR Protocol is down to $2.16, losing $0.062, after closing at $2.23 in the preceding trading session. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

ETH has managed to gain 58.49% so far this year despite trading at lows around $993.77 previously. ETH has a market cap of 231.54 billion with an average daily volume of 8.11 billion.