Not a nice cup & handle for Lisk (LSK) but price at support.
Also RSI at strong support level as well.
What will happen if Lisk leaves the orange channel? 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*no financial advice
do your own research before investing
Lisk hit the first hurdle, brining price back to 3.9$... The next bullish stop would be around 5.5$-ish according to the bullish structure and looking at previous high... Are things about to get curvy with the increasing hype for AmpliFire? Or will the slightest move of BTC cause people to drop their bags? Lets find out....
At first blush there seems to be a lot going on here but spend just a minute to examine the trend lines and thier origins. They're showing you where we'll find support on a bearish move, or resistance on bullish move, far into the future. This is a weekly scale, log chart.
Fundamentally, Lisk hasn't been the most exciting blockchain project. However, what they...
a few weeks ago I mentioned a possible reversal, resulting from an announcement from LiskHQ. However the announcement was a disappointment so price stagnated. However now we are getting to an interesting point from a technical perspective. I've included what I think are feasible price targets if price continues to rally.
#LSK USDT 4H Chart SIGNAL by Sajjat Hossen
I'm Waiting For Breakout Trend Line Resistance. But Mind It RISK IS HIGH ⚠️
Entry ✅ If 4H Candle Close Above $3.55
Stop-loss ❌ If 4H Candle Close Below The $3.18
LSK has a very ugly long-term chart.
On the daily, it looks like it's in a "Shoulder-Head-Shoulder" pattern, however the Stochastic, RSI and ADX indicators indicate a sideways move with a possible rally.
If the BTC rises it can only follow later.
However, now is not the best time to position yourself on altcoins.
I would particularly be left out.
Guys 50 EMA cut 100 EMA from top to bottom. So i think; if BTC won't go up to 58-59K, Lisk can fall down to 2$. But this is the crytocurrency exchange, everything is possible here.
There's a good scenario on the other side: If Lisk will be able to break 2 blue downtrends, we can go to 5.5$ then 7.6$.
If i had Lisk in my basket, i would sell it and i would wait to...