The cryptocurrency is on a two-day losing streak after showing signs of a potential recovery, the pair has attempted to break the resistance at $72.90 six times in the last nine trading sessions with no luck.
The Bollinger bands are closing but they are still wide enough to expect high volatility in the short term, the pair trades closer to the lower band but not close enough to consider the price low, and the short and long term moving averages continue moving downwards, strengthening the sell signals.
Our parabolic SAR indicator suggests that the price will start to climb in the short term, the relative strength index is at 32%, about to enter an oversold status again. The pair stayed oversold for more than seven sessions before managing to go above 30%.
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