The cryptocurrency managed to complete the breakout at our 23.6% Fibonacci retracement at $0.82847, the pair continues the uptrend but not without some pullbacks along the way. The current price is above the short and long-term moving averages, which crossed in recent sessions, strengthening the uptrend signals.
The Bollinger bands are wide and continue to move upwards, the upper band is expanding more aggressively, which is often a sign that the price is likely to continue the trend. The pair trades closer to the upper band, if it gets closer and the band does not open more, then investors might consider the price to be relatively high.
The relative strength index is at 61% which is high but the pair still has some room to continue moving upwards in the short term, a reason why we see the retracements is to help the pair gather strength and continue the uptrend. Our parabolic SAR strengthens the Buy signals from our other technical indicators
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