Lisk Bulls Targeting For $2.00 With No Signs of Reversals Amid Significant Bullish Run

  • After breaking above the crucial mark of $1.00, Lisk has further continued its positive run in the market and showing no signs of retracements as of now
  • The LSK/BTC pair is also trading significantly bullish with an overall gain of 14.465, bringing the current level to 0.00007826 BTC 
Source: Tradingview

The price levels of Lisk on the weekly candlestick form a symmetric triangle pattern, which can indicate a significant breakout witness in the upcoming trading sessions. The price levels have bounced from the support line twice, following strict movement within the pattern. The current positive move might potentially provide the crypto asset a positive breakout from the symmetric triangle. 

The CMP is now placed at $1.43 with a significant overall gain of 12.895 over the day and arriving close to its resistance and a 52-week high of $2.00. The market capitalization has been 9.52%, with the 24-hour volume traded to increase by 40.00% over the day. The positive performance of the LSK/BTC pair by 14.46% resulting in the current level arriving at 0.00007826 BTC, is also supporting the bullish move of the crypto asset. 

Source: Tradingview

Looking at R&S, the price levels have given its first positive breakout against the accumulation point, which was placed at $1.20 (lower green line), and also not showing any signs of retracement after the breakout. This might indicate that the bulls can sustain the current positive move. The next accumulation/resistance point is placed around $2.00 (middle green line), which the price levels are currently heading towards and most likely to break above. However, these resistance points tend to provide significant negative reversals to the price levels on previous occasions, which can be noticed in the chart. If Lisk can have a positive breakout against the upcoming accumulation point, further resistance is placed at a bullish level around $2.80. 

Source: Tradingview

On the moving averages, EMA-20 is looking at the potential to have a positive crossover against EMA-50, which could provide more impact to the ongoing bullish rally of the coin. We can expect the crossover around the price level of $1.80. 

The moving average convergence & divergence (MACD) after a bullish crossover shows positive signs; however, the levels are currently accumulating and looking to consolidate. 

The relative strength index (RSI) levels are showcasing positive nature and targeting the overbought region with the current level of 57.95 

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