The selling pressure remained intact on Thursday. Sellers moved the spot to 5180 where the coin ran through fresh bids and jumped to 5500. The crypto currency is oversold and we would not be surprised if bulls could regain control. The moving averages continued moving lower. MACD continued its decline in the negative territory. Stochastic left the oversold readings which is a good sign for buyers. The resistance stands at 5500, the support can be found at 5400.
If the buying pressure keeps growing, a further extension to 5600 is not ruled out.