The cryptocurrency has been moving laterally for the last seven trading sessions within a range of 6.7%, the price has been unable to break the resistance at the 61..8% Fibonacci retracement after four attempts in seven days.
The Bollinger bands are somehow wide, which would allow the pair to move more aggressively and have more volatility. Markets have been quiet these last few weeks, which is normal after the holidays, we might be seeing much more action on cryptos in the next few weeks.
The relative strength index is at 42% which will allow the pair to climb freely in the short to mid term once other conditions are met, the consolidation period might be over soon and then we would expect higher volatility.
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