The 0.4000/0.3800 area attracted fresh buying and after breaking a short-term downtrendline the market jumped up. Currently the Bollinger Band midline is seeing some resistance however just below 0.5000.
A higher low is good news for bulls but in order to keep advantage they will have to produce a higher high also (over 0.8000) to confirm a bullish trend. For now, with the readings getting more neutral, one may see some further trading between roughly 0.3800 and 0.6000. So, one may see a 0.6000 test short-term.
Such sideways trading may bode well however for future appreciation of this crypto.
A higher low is good news for bulls but in order to keep advantage they will have to produce a higher high also (over 0.8000) to confirm a bullish trend. For now, with the readings getting more neutral, one may see some further trading between roughly 0.3800 and 0.6000. So, one may see a 0.6000 test short-term.
Such sideways trading may bode well however for future appreciation of this crypto.