The cryptocurrency found support at $102 during the second day of trading last week, the price moved upwards 7% since then, but the uptrend does not look very strong as the price found two strong retracements in the last week. The price trades below the short and long-term moving averages, which are about to cross strengthen the downtrend signals in the upcoming sessions.
The Bollinger bands are wide enough to expect high volatility in the short term, the price trades closer to the lower band, but not close enough to consider the price relatively low. The price trades inside the Ichimoku cloud which will bring market uncertainty to the investors, the price could move in either direction at this point.
The relative strength index is at 45% which will allow the price more space for a potential recovery, the RSI has been very stable in the last 5 trading sessions, and the pair might enter a consolidation phase in the short term before breaking out.
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