The cryptocurrency is up 6.79% in today's trading sessions, after losing 30% in the previous three sessions. The price might enter the Ichimoku cloud in the next session which will indicate market uncertainty.
The Bollinger bands are wide, high volatility is expected and since the price was trading on the lower band investors took the opportunity to go long, boosting the assets price. The price now aims to break the resistance at 190.399.
The relative strength index is at 45%, a very neutral level; this will allow the pair to resume the uptrend in the short term and potentially get back to the 220’s level. Our parabolic SAR indicator suggests that the price will continue to fall, however, this is a lagging indicator, we are getting solid signals to place a buy trade.
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