- Lisk is bullish in the short-term, with the cryptocurrency trading towards the best levels of the year so far
- The medium-term outlook is neutral, with price edging closer to the LSK / USD pair’s 200-day moving average
- The daily time frame shows buyers probing the neckline of a bullish inverted head and shoulders pattern
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.
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.
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.
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.
The MACD indicator on the daily time frame is showing a bullish bias, although the MACD signal is approaching overbought conditions.
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.
Our coin guide provides a great overview of the Lisk project.
Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment.