The cryptocurrency managed to pass the $46,000 temporarily, but the breakout was not completed, now the pair fell below the 38.2% Fibonacci retracement and is likely to make another breakout attempt in the upcoming trading sessions.
The Bollinger banda are wide but they are starting to close, volatility should still be high in the upcoming sessions, the pair is at a fair price as it is still trading within the bands. Our parabolic SAR indicator suggests that the price will continue rising in the next sessions.
The relative strength index is at 59% which will allow the pair to move in either direction in the short to mid-term. The price is above the short and long-term moving averages, suggesting that the pair should continue the uptrend. It will need to break the resistance at $46,721 in order to continue climbing and get closer to the $49,000 levels.
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