After an impulse breakthrough in the beginning of the year, Lisk started a downtrend forming a corrective pullback. At the moment the price has fallen to the safe buy zone where the last time a growth wave was started.
The price should decrease a bit due to bearish XABCD formation at the chart. however up from the level drawn at the chart there should be a rebound.
The market forms a descending wedge, breaking through the upper edge of it will give an opportunity for further growth.
If the resistance of 0.00062 will be too strong then the price will go lower till the next support level where it should consolidate and bounce back. in case of this scenario you should buy more in parts around 0.00058.
The final stop loss is located around 0.00055 in case of such negative scenario stay tuned to our updates where we will present the best moment to reenter till the breakeven point.
Overall, the coin looks stable according to DMI and full of strength to start a growth wave
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The coin touched stop loss when the whole crypto market went down on 31st of July. However, LSK managed to bounce very quickly and we expect it will reach the targets