- The is continuously manipulated by both the bulls and bears which is resulting in a typical wave pattern over the daily price chart.
- The technical indicators suggest a bearish movement can hit the LINA price, so investors should be prepared
- The LINA/BTC pair is at 0.0000004318 BTC with a loss of 4.72% in it.
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The LINA price after surfing some typical waves generated by the battle of bulls and bears is now heading towards an uptrend movement over the daily price chart. This shows the bulls are accumulating to rescue the token, but this time the bulls need to be consistent to make the uptrend successful. The volume is declining and has lost 15% in the intraday trading session which can make the price drop again. Investors can make an entry and can mark it as a demand zone which will make the price pump.
The current price for LINA is hovering at $0.0093 with a gain of 6.15% in its market capitalization in the last 24 hrs. The token has a trading volume of 7 million which is at a loss of 15.60% in the 24 hrs trading session and a market cap of 35 million. The volume market cap ratio for LINA is 0.2161.
What do Technical Indicators suggest
The MACD indicators indicate a bullish run as the histogram is growing green along with the buyers line moving above the sellers signal line showing the increase in buying. On the contrary, the relative strength index indicates an increase in buyings as it took a turn toward the downward region, whereas the price just approached the upper band of the Bollinger band cloud which signals a bearish movement ahead. So the technical indicators are a bit manipulative but majorly support the bearish movement. So the LINA investors need to wait a bit before making any decision.
Conclusion
The LINA price after surfing some typical waves generated by the battle of bulls and bears is now heading towards an uptrend movement over the daily price chart. The volume is declining and has lost 15% in the intraday trading session which can make the price drop again. Along with this technical indicators superficially suggest a bearish movement ahead. Investors can wait before making any decision.
Technical levels
Resistance levels: $0.0100 and $0.0131
Support levels: $0.0072 and $0.0052
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.