The cryptocurrency is on its way to a three-day winning streak after retracing to the $83 levels.
The short and long term moving averages crossed at the beginning of march suggesting a downwards trend, the price is now above both lines and that is often a sign that an uptrend is likely to continue, it could take some sessions for the MA’s to cross again if the uptrend continues.
The Bollinger bands are closing up, which will bring lower volatility in the market; however, when the bands shrink, a trend change can be expected, the price would find resistance at $103.5, its previous high since mid-February, or at the upper band which currently sits at $105.8.
The relative strength index is at 51% a level that would allow the price to continue climbing in the short to mid-term. Our parabolic SAR indicator suggests that the price will fall, but remember that this is a lagging indicator, all other signals are for a Long position.
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