The cryptocurrency is showing signs of recovery, this will allow traders to buy at a low price, the price is close to entering the Ichimoku cloud which will bring market uncertainty, but other technical indicators are showing signals for a potential long trade.
The Bollinger bands are no longer opening up but they are wide enough to expect high volatility, the price was trading below the lower band, which suggested that the price was relatively low, this incentivizes traders to go long on this pair and it's paying off so far.
The relative strength index is at 45% another good indicator that the price could start a rally in the short term. The short and long-term moving averages are steady, the price trades below the lines, but this could change very soon.
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