The cryptocurrency has been able to recover more than 28% in just six trading sessions. The price is getting closer to the resistance level at $149.31. Our parabolic SAR just switched to an uptrend signal, making the asset attractive to place a long trade.
The Bollinger bands are opening up, and we could expect higher volatility. The price trades closer to the upper band, suggesting that it is close to being considered relatively high; however, the relative strength index is currently at 56%, which will allow the pair to continue climbing in the short term.
The price is entering the Ichimoku cloud, and investors might see this as market uncertainty. The cloud indicates a downward trend, but the cryptocurrency might be on a hot streak and continue climbing in the short term; it could reach its first resistance in the upcoming days. If the price can complete this breakout, the next resistance will be found at 178.142 at our 23.6% Fibonacci retracement.
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