- Lisk was unable to hold bullish levels around $1.60 and faced significant negative reversals from the resistance level of $1.80
- The LSK/BTC pair is also facing a significant downfall in the levels with an overall loss of -9.32%, bringing the current level down to 0.00006993 BTC
On Lisk‘s weekly price performance chart, the price levels after having a positive breakout above the crucial mark of $1.00 showed significant bullish nature. The positive rally continued till the point at $1.60, from where it started to show instability, and a distribution phase was observed. The CMP is now placed at $1.19, facing an overall loss of -19.23% resulting in the market capitalization of $ 149,483,371 and the 24-hour volume traded of $8,086,432. A negative breakout below the crucial mark of $1.00 will provide significant bearish signals for the crypto asset in the upcoming trading sessions. Also, the overall market conditions will be playing an essential role in the price behavior of Lisk.
Technical Levels Takes A Negative Dip Due To Downfall
The technical chart highlights the Lisk‘ bullish move from the starting of the month, which had a peak point of around $1.60. However, the levels indicated a potential downfall beforehand when the price levels faced distribution at about $1.50. The coin is having an accumulation point at $108.00, which might the levels to prevent any further downfall. If the overall market conditions continue to put negative pressure on the price levels, we can witness more decline.
The relative strength index (RSI) levels were unable to sustain in the overbought region and took a sharp negative divergence. However, the levels could have a positive bounce back, avoiding the dip to the oversold territory. The current levels stand at 43.55 and moving positively.
The directional movement index (DMI) indicates that the crypto asset’s positive sentiment is still prevailing in the market as ADX (29.16) remains above +DI and -DI. However, -DI (24.00) has given a positive breakout against +DI(14.23), which justifies the ongoing downfall.
The accumulation/distribution levels bend towards distribution, standing at -898.228K, also justifying the coin’s current negative trend.
Will Bears Continue to Damage Lisk Price Levels?
As the overall market conditions still face negative momentum, Lisk price levels might face more downtrend in upcoming days. However, a positive bounceback from the support placed at $1.08 and the emergence of the bulls in the overall market conditions might revive the digital asset’s positive momentum.
Resistance Level: $1.60 & $1.80
Support level: $1.08 & $1.00
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