- LSK coin takes support from the $26 level with tweezer bottom in a daily time frame.
- The LSK/BTC pair was trading at 0.00007707 BTC with a gain of 0.28 %
- The 24 hr trading volume in LSK is $24.50 million
The LSK coin is back to the $2.6 support level in the daily time frame, exactly the level from where the price bounced back from the previous fall. On Sunday, the price tried to rise with a bullish tweezer bottom candle pattern but was stopped by the $3.5 resistance, also the Fibonacci level 0.786 level. The price is still inside this small range and shows no signs of a breakout to either of these levels.
The EMA lines indicate a very strong bearish trend formation, as the LSK coin is trading below all the crucial EMA’s 20, 50, 100, and 200. Investors can also see the bearish crossover of 20-200 ema and 50-100 EMS’s supporting the ongoing downtrend.
The RSI (BEARISH) value is at 41, indicating bearish momentum. However, investors can notice that the RSI line is not that in a bearish slope compared to price, suggesting some weakness in the bear’s strength.
The Bearish Trendline Remains An Unbreakable Hurdle For LSK Coin In The 4hr Time Frame.
The 4hr time frame shows a clear downtrend in the LSK coin. The bearish trendline shows high reliability as it has been respected multiple times and carries the bearish trend since the $5 mark. Currently, the price has given a higher price rejection candle suggesting the price will again reject from this line and move lower.
The MACD indicator (NEUTRAL) shows both the MACD and the signal line gave a bullish crossover which generally indicates a buy signal. However, investors can also see that both the lines have given multiple crossovers around the neutral zone indicating a sideways trend. The histogram shows small faded red and green bars.
Conclusion: From the technical perspective, the overall market sentiments of the LSK coin is bearish. Currently, The price has been stopped by the $3.25 resistance level coinciding with the 4hr bearish trendline and has not given any sign of a breakout or reversal. Investors can wait for a breakout from this small range before entering the market.
Support– $2.6
Resistance– $3.25