Last week the cryptocurrency suffered a retracement to the 190's level. It's now hedging for a three-day winning streak, but it faces a resistance at the 214.348 level, which is the previous high since September 19th.
The Bollinger bands are opening up, and we can expect higher volatility in the upcoming trading sessions. The price trades closer to the upper band, indicating that it is relatively high, which could bring it down a bit. The pair just exited the Ichimoku cloud, giving an extra boost to the uptrend. If the bands continue to open up, we might see the price continue climbing.
The relative strength index is at 61%, which is a tight spot, but it still has some more juice to squeeze on the uptrend. If the price falls, it will re-enter the Ichimoku cloud, and that will bring market uncertainty.
The short and long-term moving averages trade below the current price level, and although they are getting closer, we believe they will adjust in the upcoming sessions. They still indicate an uptrend at the moment.
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