The price is attempting to break above the upper boundary of the channel, similar to what BTC has done. The trend line on the logarithmic chart is providing additional resistance. The price is in a zone of strong overbought conditions across multiple timeframes.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.