The cryptocurrency has gained almost 9% in the last three trading sessions; the price currently trades above the resistance level at $147.42. The asset could continue its upward trend for the short term.
The relative strength index is currently at 59%, which will allow the price to continue climbing; the crypto is currently finding a pullback; from what we see in the technical indicator, this should be temporary. However, the price is trading inside the Ichimoku cloud, which is interpreted as market uncertainty. Other major crypto assets have been performing positively in the last few trading sessions.
The Bollinger bands are wide and opening up somehow symmetrically, which will bring higher volatility to the markets for this asset. The price is currently trading very close to the upper band, which suggests that the price is relatively low; this is when buyers enter a dilemma and choose whether or not to close their winning positions and buy again once the price has dropped.
The next resistance level is at $155.43, we would expect the price to reach this resistance during the trading session, but we do not have strong evidence suggesting that it will be broken.
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