The cryptocurrency sank to the 110 levels during the weekend session, losing more than 36% in just three days, the pair managed to recover some ground shortly after but has a 5% loss today.
The pair trades closer to the lower Bollinger band suggesting that the price is relatively low, in combination with the low RSI we would expect the crypto to start a recovery in the short to mid-term; however, the price might fall to the 130s before starting a rally
The parabolic SAR suggests that the downtrend will continue, the price is on a downward trend that could be reversed soon. The relative strength index is recovering from an oversold status which indicates that the price is likely to recover in the upcoming sessions.
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