Lisk seems to have formed a symmetrical triangle pattern over the last week.
A break below the lower trendline is used by technical traders to signal a move lower, while a break above the upper trendline signals the beginning of a move upward.
I think bulls are in favor here due to positive fundamentals (blockchain meet up berlin announced on twitter, taking place 11/22 starting 6:30pm in germany), possible hints at rebranding, and security audit november 30.
Take note symmetrical triangle is known to make large movements in direction of breakout, so I recommend use of stop losses and limit buy orders.
Local swing highs broken used as bullish confirmations.
previous swing highs used as take profit levels.
Target 1: 150,000 sats
Target 2: 173,000 sats
Risk reward: 2+
A break below the lower trendline is used by technical traders to signal a move lower, while a break above the upper trendline signals the beginning of a move upward.
I think bulls are in favor here due to positive fundamentals (blockchain meet up berlin announced on twitter, taking place 11/22 starting 6:30pm in germany), possible hints at rebranding, and security audit november 30.
Take note symmetrical triangle is known to make large movements in direction of breakout, so I recommend use of stop losses and limit buy orders.
Local swing highs broken used as bullish confirmations.
previous swing highs used as take profit levels.
Target 1: 150,000 sats
Target 2: 173,000 sats
Risk reward: 2+