The cryptocurrency continues moving downwards and reached its lowest level since March 8th, we see a slight recovery of less than 1%, which could be the beginning of the end of a downtrend if the price is able to find support at $91.62.
The short and long-term moving averages crossed on April 19th and the pair has not been able to recover since, the price is below both Moving Average lines, strengthening the short signals.
The Bollinger bands are moving downwards, indicating that the price is likely to continue falling in the short to medium term, the pair trades below the lower band, suggesting that the price is relatively low, which could incentive traders to enter the market with a long position.
The relative strength index is at 38% which in theory would allow the price to continue falling in the upcoming sessions, but the price could also start recovering some ground before entering the oversold status. Our parabolic SAR indicator suggests that the price will fall in the short-term
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