Looking technically, strong barriers are clustered around the current price. Once the coin is out of the above-mentioned range, the movement in either direction can gain traction. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.
Resistance levels: $7,400 - 38.2% Fibo retracement daily and weekly, the middle line of 1-hour Bollinger Band, a host of short-term SMA (Simple Moving Average) levels, SMA50 (Simple Moving Average) and SMA100 4-hour, SMA200 1-hour, 23.6$ Fibo retracements daily. $7,700 - 38.2% Fibo retracement monthly, Pivot point 1-day Resistance 2. $7,890 - Pivot Point 1-day Resistance 3, the highest level of the previous week.
Support levels: $7,250 - the lower line of 1-hour Bollinger Band, a host of short-term SMA levels, SMA50 1-hour. $7,040 - 61.8% Fibo retracement weekly, Pivot Point 1-day Support 2. $6,500 - the lowest level of the previous week and the lowest level of the previous month.