The cryptocurrency has been on an uptrend for the last eight trading sessions; it only found a bump in the road in two sessions. It closed the day with minimal losses, then regrouped, and is now attempting to complete a breakout on the 23.6% Fibonacci retracement.
The Bollinger bands are closing up, which suggests that volatility will be lower. There might be a consolidation period for the short term; this could cause some lateral movements for the crypto asset. The price trades closer to the upper band but not enough to be considered high; the current price is at a fair level based on this indicator.
The relative strength index is at 52%, which is a very vanilla level; it will allow the pair to move in either direction after the consolidation period is over. The pair is trying to complete the breakout at the resistance; we will have to wait and see if it sticks or if we see a retracement in the next sessions.
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