Lisk / USD Short-term price analysis
Lisk has a bullish short-term outlook, with the cryptocurrency building strength above its 50-period moving average and trading back towards the best levels of the year so far.
The four-hour time frame shows that bearish price patterns are being invalidated, as LSK / USD buyers retain firm control of price-action in the short-term.
Technical indicators are still bullish on the four-hour time frame, although they are showing signs of possible upside exhaustion.
Pattern Watch
A bullish breakout from a descending triangle pattern is currently underway on the four-hour time frame.
Relative Strength Index
The RSI indicator on the four-hour time frame is correcting from overbought territory.
MACD Indicator
The MACD indicator on the four-hour time frame is conflicted, with the MACD signal line generating a bullish signal while the MACD histogram is turning lower.
Lisk / USD Medium-term price analysis
Lisk has a neutral medium-term bias, with the cryptocurrency trading back towards its trend defining 200-day moving average.
Bullish signs continue to emerge on the daily time frame, with buyers probing the neckline of a large inverted head and shoulders pattern.
The March 15th trading high and the LSK / USD pair’s 200-day moving average are currently the strongest forms of technical resistance above the neckline of the bullish pattern.
Pattern Watch
Traders should note that the upside target of the bullish inverted head and shoulders pattern would take the LSK / USD pair back towards levels not seen since mid-November 2018.
Relative Strength Index
The Relative Strength Index on the daily is bullish, although it has so far failed to create a new price high.
MACD Indicator
The MACD indicator on the daily time frame is showing a bullish bias, although the MACD signal is approaching overbought conditions.
Conclusion
Lisk is edging back towards the best levels of the year, as overall dip-buying demand for the cryptocurrency remains strong over both time horizons.
If bulls can move the LSK / USD pair above its 200-day moving average and ignite the large bullish pattern on the daily time frame, further strong medium-term gains remain the most likely scenario.
Lisk has a bullish short-term outlook, with the cryptocurrency building strength above its 50-period moving average and trading back towards the best levels of the year so far.
The four-hour time frame shows that bearish price patterns are being invalidated, as LSK / USD buyers retain firm control of price-action in the short-term.
Technical indicators are still bullish on the four-hour time frame, although they are showing signs of possible upside exhaustion.
Pattern Watch
A bullish breakout from a descending triangle pattern is currently underway on the four-hour time frame.
Relative Strength Index
The RSI indicator on the four-hour time frame is correcting from overbought territory.
MACD Indicator
The MACD indicator on the four-hour time frame is conflicted, with the MACD signal line generating a bullish signal while the MACD histogram is turning lower.
Lisk / USD Medium-term price analysis
Lisk has a neutral medium-term bias, with the cryptocurrency trading back towards its trend defining 200-day moving average.
Bullish signs continue to emerge on the daily time frame, with buyers probing the neckline of a large inverted head and shoulders pattern.
The March 15th trading high and the LSK / USD pair’s 200-day moving average are currently the strongest forms of technical resistance above the neckline of the bullish pattern.
Pattern Watch
Traders should note that the upside target of the bullish inverted head and shoulders pattern would take the LSK / USD pair back towards levels not seen since mid-November 2018.
Relative Strength Index
The Relative Strength Index on the daily is bullish, although it has so far failed to create a new price high.
MACD Indicator
The MACD indicator on the daily time frame is showing a bullish bias, although the MACD signal is approaching overbought conditions.
Conclusion
Lisk is edging back towards the best levels of the year, as overall dip-buying demand for the cryptocurrency remains strong over both time horizons.
If bulls can move the LSK / USD pair above its 200-day moving average and ignite the large bullish pattern on the daily time frame, further strong medium-term gains remain the most likely scenario.