Currently Lisk is trading at $8.2 after it has declined from the $40 all-time high. The total loss to the USD was 80%, which is an average correction after the rally within cryptocurrency market.
LSK/USD is now facing strong support at 88.6% Fibonacci retracement. At the same time RSI is forming a bullish divergence, that might be the first sign of a trend reversal, or at the very least a correctional move up.
The could be a great long term buying opportunity, but only if a daily close will remain above the $8.18 support. Break and close below it could extend the consolidation and send price slightly lower before the beginning of the uptrend.
LSK/USD is now facing strong support at 88.6% Fibonacci retracement. At the same time RSI is forming a bullish divergence, that might be the first sign of a trend reversal, or at the very least a correctional move up.
The could be a great long term buying opportunity, but only if a daily close will remain above the $8.18 support. Break and close below it could extend the consolidation and send price slightly lower before the beginning of the uptrend.
Comment:
Nice reversal by the Lisk
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