• Home
  • Trading
  • Live Data
  • Events
Home Trading LSK / USD Price Analysis: Under Siege

Shutterstock

LSK / USD Price Analysis: Under Siege

The daily-time frame is providing support for Lisk, but it will need to make a recovery soon.

-

  • Lisk is bearish in the short-term, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame
  • The medium-term trading outlook for the LSK / USD pair remains bullish
  • The daily time frame continues to show a bullish inverted head and shoulders pattern

Lisk / USD Short-term price analysis

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

The four-hour time frame shows a valid head and shoulders pattern, with LSK / USD buyers now attempting to reverse the recent decline and invalidate the bearish pattern.

Technical indicators are still bullish on the four-hour time frame and continue to signal further near-term gains.

SIMETRI Research

 

LSK USD H4 Chart May 10, powered by TradingViewLSK / USD H4 Chart by TradingView

 

Pattern Watch

Traders should note that a much larger bearish head and shoulders pattern could take shape if the LSK / USD pair starts to decline.

Relative Strength Index

The RSI indicator on the four-hour time frame is bullish, although it has moved into overbought territory.

MACD Indicator

The MACD indicator on the four-hour time frame has turned bullish, with the MACD signal line and histogram issuing a buy signal.


Lisk / USD Medium-term price analysis

LSK has a bullish medium-term outlook, with the cryptocurrency still trading above its trend defining 200-day moving average.

The daily time frame is showing that the inverted head and shoulders pattern has reached its upside target, with LSK / USD bulls now needing to force price above the current 2019 trading high to encourage fresh technical buying.

Technical indicators on the daily time frame are attempting to turn bullish alongside the recent advance in the LSK / USD pair.

 

LSSK / USD Daily Chart May 10, powered by TradingViewLSK / USD Daily Chart by TradingView

 

Pattern Watch

Traders should note that a bearish head and shoulders pattern could form on the daily time frame if buyers fail to move the LSK / USD pair to a new 2019 trading high.

Relative Strength Index

The RSI indicator on the daily time frame has turned bullish as upside momentum continues to build.

MACD Indicator

The MACD indicator on the daily time frame is attempting to turn bullish alongside the recent advance in the LSK / USD pair.


Conclusion

LSK is attempting to build bullish momentum over both time horizons after finding strong technical support from its 200-day moving average.

If sellers fail to invalidate the bearish pattern on the four-hour time frame, the LSK / USD pair could suffer even deeper losses and turn bearish over the medium-term.

 

Check out our coin guide for Lisk.

Lisk Chart

 

DISCLOSURE

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

Avatar
The Analyst Team
Crypto Briefing has become known for providing thoughtful and insightful diligence on early-stage blockchain ventures. Our reports are distributed globally, including via Binance Info. Almost 100 free, unpaid, and independent Digital Asset Reports and Evaluations and early-stage crypto assessments are available by clicking on the CB icon, right here.

JOIN OUR COMMUNITY!

Join the conversation on Telegram and Twitter!

8,427FollowersFollow
1,342SubscribersSubscribe

More News & Analysis

Get The Best Of Crypto Briefing!

Crypto news flashes, new DARE research, upcoming mainnet launches, market reports, and much more!

X
X