Lisk Price Analysis: LSK Token Price May Take A While To Reach The Moon

  • Lisk Price is trailing inside a parallel channel on the daily chart. Meanwhile the price is currently in a slump with a loss of 19% in intraday session.
  • LSK technical indicators hint at an uptrend in the price. Meanwhile, the LSK/BTC pair is currently trading with a loss of 12.2%

Lisk price is trailing at $3.51 with an intraday gain of 19%. The resistance for LSK price on the upside can be seen at $7. In contrast a bounceback in the price can be expected from $2.7. Lisk has seen an ROI of 5488% which has always been a fascinating point for the investors . The price has seen a jump of more than 10X since the beginning of the year. LSK token price has given a great return to the investors in the past and can continue to do so in the future. LSK/BTC pair is currently in a downtrend but can soon see a positive recovery.

Lisk is currently ranked at 112 in the CMC, with a market capitalization of $613,006,429.The coin volume also went down upto 52.07% in the last 24 hours.

Technical Indicator Suggests  A Consolidated Momentum For LSK Token Price

Source: Trading view
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Lisk technical chart highlights a slow paced recovery on the weekly and daily time frame. LSK daily chart hints at an upcoming bullish trend in the future . The  price follows a lower low’s trendline and can test the higher levels in the future. It is currently trading below  50 and 100 Daily Moving Average. The 100MA (RED) line is at $5.24, making it a temporary resistance in the asset price.

 Coming to the daily chartr, the coin has formed an upside parallel channel and is currently looking for a breakout. If the coin price crosses 15% above the channel, then a strong bullish momentum can be seen.

 The volume indicator on the daily chart represents a small selling  momentum with the volume of 1.55M. If the price goes above $5.0, an increase in buying volume could be seen.

RSI(Neutral): It is currently trailing at 42.72, showcasing its presence in the neutral zone. A small negative slope is formed in the RSI, highlighting that the price can see a consolidated  momentum. The overall sentiment of the RSI is Neutral.

Conclusion

 LSK token has great potential and can see a huge spike in the future. LSK/BTC pair can also rally to higher levels in the near future. Investors should do their own due diligence before investing.

Technical Levels

Major Support:$2.7

Major Resistance:$7

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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