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AltcoinPrice Analysis

Lisk (LSK): Price Analysis, Dec. 04

Lisk Price Analysis – LSK/USD

LSK/USD

The 34 largest cryptocurrency by market cap that stands at the level of $151,465,758 on December 04, 05:21 UTC, Lisk has perforated in current value by 59.8% approx. compared to the level of an all-time high on October 10 as analyzed from the analytics above.

Now, let’s look at the technical picture of the LSK/USD pair as follows:

Since both moving averages have turned down representing a negative sign, and recently the 14-day RSI has hit deeply oversold levels representing the fact that selling has been overdone, however, as of now, the pullback is likely. The falling 20-day EMA shows that the bears have the upper hand. With this, LSK/USD pair remains in a bearish trend in its medium-term outlook. The strong bearish pressure successful dropped the current value by making it the lowest low of the day before exhaustion set in. Those involved in a trading activity are better to wait till the current value bounce off the current level and wait for the uptrend scenario observed through EMA. However, those who would like to invest for the long-term perspective, the current value represent an excellent opportunity. The downward slope from July to date shows that the current value affected by macro fundamentals and competitive factors. Even those waiting for executing long-term position in it, are advised to be on the sidelines for the time being. Amid the entire scenario since August this year, the LSK/USD pair remained range bound from August 15 to August 29 this year, as the cryptocurrency rallied from a low of $2.57 to a high of $6.31 which is a 145.5 % within fourteen days. Let us not forget that Lisk helps make easy for developers to build & deploy decentralized applications in JavaScript. Based on the present scenario, the next support level can be estimated at $1.30 as it may expect to experience “oversold” territory again!!

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Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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