The cryptocurrency has not been able to go above the $148.2 price line in 17 trading sessions. Price seems to be consolidating around the $130 level. For the last ten sessions, the pair has not been below $129, which is a very small range for a cryptocurrency.
The Bollinger bands continue shrinking, indicating that volatility could be low for the upcoming sessions. The price trades in between the bands, which tells us that the price is reasonable. The relative strength index is at 39%, and it has not been above 45% since mid-May.
Short and long-term moving averages continue moving downwards, and the gap between the lines continues increasing, suggesting that the general trend is still downwards. Our parabolic SAR indicator strengthens these short signals.
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