The cryptocurrency had a promising session on Friday and Saturday, it managed to break the 38.2% Fibonacci retracement at 222.279, but fell below this level on the following session. The price is moving sideways between the 200 and the 227 levels.
The Bollinger bands are wide but they are starting to close out a bit on the edge, this often occurs when a consolidation period is on the way, the price might be moving laterally for the short term. The price trades between the bands, suggesting that it is at a relatively fair level.
The relative strength index is at 47% which is a very neutral area, this will allow the pair to move in either direction in the short to mid-term. The price traded below the short and long-term moving average, suggesting that it could continue falling in the upcoming sessions.
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