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- Lisk trading in a symmetrical triangle pattern and ready for a positive breakout if it sustains above the levels of $1.40
- The pair of LSK/BTC & LSK/ETH currently standing at 0.00005690 BTC and 0.00211868 ETH, respectively
Lisk (LSK) is trading in the symmetrical triangle pattern on the weekly time frame, and the accumulation range is from $1.00 and $1.20. It is trading at the higher end of the pattern. The rising traded line of the triangle is acting as the support line, while resistance is of the pattern’s higher line. The minor resistance on the weekly chart is placed at $1.40, and if the price of LSK is closing above, it can be considered bullish for the next few trading sessions. After breaking the symmetrical triangle pattern, we can see the targets of $1.93, $3.41, and $6.27 in the coming trading sessions. The higher side’s resistance is placed at $1.60 and $2.10; on the other hand, support on the lower levels is placed at $1.15, and $0.94 can be considered the strong support on the lower levels.
The EMA of 50 and 20-Day is heading close to each other, and 20-EMA is now heading for a positive crossover. However, the price is currently trading above 20-EMA. The higher side targets are placed at $1.92, $3.41, and $6.20 after a successful breakout from the symmetrical triangle pattern.
Moving Average Convergence Divergence (MACD) currently indicates the bullish trend on the daily chart as it gives a positive crossover with the significance of Bull’s line (yellow) over Bear’s line (black) with no sign of weakness and it gives the confirmation of an uptrend.
Support levels: $1.15 and $0.94
Resistance levels: $1.60 and $2.10.
