The cryptocurrency struggled to go beyond the $151.9 price level in recent weeks, the resistance at the 23.6% Fibonacci retracement is strong and the breakout has not been completed, the pair will likely make another attempt in the short term.
The Bollinger bands are opening and point upwards which is often a signal for an uptrend, the pair tarded in between the band, suggesting that the price is at a fair level, our Parabolic SAR indicator suggests that the price will rise in the short term, would the trend be strong enough to break the resistance? We would have to wait and see.
The relative strength index is at 46%, a very neutral level that would allow the pair to move in either direction, but based on other technical indicators we believe that the price could rise in the short term.
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