The cryptocurrency has been moving laterally for the last 13 days, it has not been able to breakout the $116 barrier and has found support at $100 multiple times during that time. A consolidation period might breakout in the upcoming trading sessions.
The short and long-term moving averages recently crossed, indicating that the trend is likely to continue downwards as the price also trades below these lines. The Bollinger bands are wide and they are starting to move downwards as well, another signal that the price might drop in the reopening of the session or in the upcoming days.
The relative strength index is at 40% which will still allow the price to continue falling, perhaps to the 95 levels before entering an oversold status. Our parabolic SAR indicator also suggests that a downwards trend might continue.
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