The cryptocurrency is recovering some ground as it managed to pass the short and long-term moving averages lines, there could be a breakout attempt of the resistance at $162 in the short term. If the price continues to move up there could be a crossing soon that will indicate a trend reversal.
The Bollinger bands are starting to open up which will likely bring higher volatility to the pair in the upcoming sessions, they would need to open more aggressively for the price to continue moving up.
The relative strength index is at 51% which will allow the price to continue the uptrend it started on January 11th, there is enough room for it to move in either direction; however, we believe that the price will continue to climb in the next few days.
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