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Lambda Price Analysis LAMB / USD: Going Strong

LAMB could see more gains ahead.

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  • Lambda has a bearish short-term bias, with price still trading below key technical resistance on the four-hour time frame
  • The four-hour time frame shows that a large inverted head and shoulders pattern is building
  • The daily time frame highlights that the cryptocurrency is attempting to build strength above its 50-day moving average

Lambda / USD Short-term price analysis

Lambda has a bearish short-term bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame.

The four-hour time frame shows that a large inverted head and shoulders pattern has formed, which would more than double the value of the LAMB / USD pair.

Technical indicators are bullish on the four-hour time frame and continue to issue strong buy signals.

 

LAMB H4 Chart August 7 by Tradingview
LAMB / USD H4 Chart by TradingView

 

Pattern Watch

Traders should expect a test of key neckline resistance if price starts to stabilize above the LAMB / USD pair’s 200-period moving average.

Relative Strength Index

The Relative Strength Index on the four-hour time frame is bullish and shows scope for significant upside.

MACD Indicator

The MACD indicator on the four-hour time frame is bullish and continues to generate a strong buy signal.


Lambda / USD Medium-term price analysis

Lambda has a neutral medium-term bias, with the LAMB/BTC pair attempting to gain strength above its 50-day moving average.

The daily time frame is showing that an inverted head and shoulders pattern is starting to take formation, which implies more medium-term upside for the LAMB / USD pair.

Technical indicators on the daily time are neutral and are currently failing to generate a clear trading signal.

 

LAMB Daily Chart August 7 by TradingView
LAMB / USD Daily Chart by TradingView

 

Pattern Watch

Traders should expect a test towards the neckline of the bullish pattern if the cryptocurrency continues to firm above its key 50-day moving average.

Relative Strength Index

The RSI indicator is flatlined on the daily time frame and is failing to issue a clear trading signal.

MACD Indicator

The MACD indicator is neutral on the daily time frame and is currently failing to generate a clear trading signal.


Conclusion

Lambda may see more strong gains ahead as both the four-hour and daily time frames are showing the formation of large bullish patterns.

Overall, further price stabilization above the LAMB / USD 50-day moving average is likely to trigger a test of key neckline resistance.

 

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DISCLOSURE

Authors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.

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