LISK(LSK) Analysis: Lisk on Edge to Break Symmetrical Triangle Pattern

  • Lisk (LSK) is close to breakout line of a symmetrical triangle pattern for the first target of $2.47 & $4.80, once it holds the levels of $1.50
  • The LSK/BTC pair trading near the bottom at the levels of 0.00003695 BTC with intray loss of -1.08%
Source:tradingview

Lisk (LSK) is trading inside the descending triangle pattern, which is about to complete soon and the breakout can give a massive return. After falling from higher $39.31, it is now heading for a positive breakout for the first target of $2.47 and $4.80, only if it started to trade above $1.50.  The downside support is situated at $1.10 and $0.90, similarily resistance on the higher side is placed at $1.50 and $3.84. 

Source:tradingview

Lisk (LSK) on 1-Day time frame is looking for a positive breakout, currently trading at the price levels of $1.42 with a massive intraday gain of +11.24%. The volume traded in last 24-hour is jumped over +201.95% standing at $14,746,151. Similarly, the total market capitalization stands at $179,673,050, with an intraday gain of +10.79%. The digital asset could be bullish once it successfully started to trade above $1.50. LSK gains over +21.93% in the past seven days. 

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The Relative Strength Index (RSI) indicates a bullish momentum while trading at 64.81. Currently, it is heading towards the overbought territory. Therefore, LSK can expect short-term retracement. 

Support levels: $1.10 and $0.90

Resistance levels: $1.50 and $3.84

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Krystian Bielanskihttp://www.thecoinrepublic.com
Krystian is a crypto trader and investor with a background in IT based in Hong Kong. He specialises in technical and fundamental analysis working closely with chartist and algo programmers.

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