LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket.
  • It is having a gain of 10.04% and is expected to capitalize on the momentum built. 
  • The reason for gain can be regular updates and spread of knowledge by its community. 

Lisk is basically a blockchain application platform which is having the main purpose of accessibility of blockchain technology to the masses. Lisk heavily focuses on user experience, developer support and in-depth documentation which helps it to get the information about the masses and cater to their needs through the blockchain application.

It is built with javascript and based on the decentralized distributed network. It also offers sidechains in order to support a high level of security and privacy for developers.

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FUNDAMENTAL ASPECT

One of the main fundamental features of this altcoin is its active community. The community heavily works on spreading knowledge about the blockchain application and also works on mass adoption. The regular updates and features provided by the community to its users makes it unique in comparison with other crypto-assets.

Yesterday, Binance announced that it will be supporting LISK staking from 27th February onwards which is another step taken for mass adoption of the altcoin.

Source: Twitter

The recent update came for mobile phone users in which enhanced features like the dark optimized theme, enhanced error messages and portfolio value conversion into CHF.

Source: Twitter

In the past month, the community introduced DEV FORUM (DEV.LISK.IO) which serves as a knowledge-sharing platform for technical questions about the Lisk SDK and Lisk Core.

Source: Twitter

The community also tweeted about the additional objectives to the Lisk protocol roadmap which is expected to launch in the near future. The additional objectives will provide simplicity in the transaction, universal serialization method and authenticated data structure.

Source: Twitter

TECHNICAL ASPECT 

Source: Coinmarketcap.com

Lisk started the year with a low price of $0.55 and gone to the Year-High of $2.70 where the resistance of $3.00 came into play and forced the altcoin to pricing corrections. It went down to the support level of $1.30 yesterday where LSK bulls were waiting to gain momentum.

Today, it is on the gaining side with a 10.04% overall gain bringing the current price to $1.41. The market capitalization is of $172,701,102 and the 24H volume traded is of $16,985,904.

Source: Tradingview.com

The technical chart reflects on the bullish momentum gained by LISK from the starting of the year which is followed by pricing correction. Technical indicators and oscillators suggest that there is a strong bullish momentum coming for LISK.

RSI is in the positive territory and is reaching a strong level of 60 which favors LSK bulls. CCI also remains in the positive zone which is a green sign for the altcoin. However, MACD levels show that there is potential for selling momentum on the crypto assets.

Currently, it is standing on a strong support level of $1.40 and is expected to capitalize on the positive momentum built. Lisk future price can be standing at $10 in the next two or three months.

Resistance levels: $2.80 and $2.10

Support levels: $1.40 and $1.20

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