- The LQTY token price has declined by over 77% from its high.
- The LQTY coin’s price is trading below its 50-day and 100-day Exponential Moving Averages.
- Liquity token’s price has surged by over 8% in a week and 12% in a month.
Market capital of LQTY token – $82.729 Million
The current market price of LQTY – $0.884
The LQTY Token Overview
The LQTY coin in the current session is trading in the red with a fall of 0.003 or 0.34%. The price has surged by over 8% in a week and 12% in a month, which signifies that the price is in a short-term bullish trend. This token’s price has declined by over 11% in a year. It shows that the price has been dominated by the sellers over the period of one year.
The LQTY coin’s price is trading in a range of one candle that formed on 17th August. This candle is proving to be a decider candle, as the price has not been able to close outside the range of the candle. The price tried to close above the candle’s range on 6 September but failed to do so.
Technical Analysis of The LQTY Token
The coin has formed a downward-sloping trendline on the daily time frame and it is trading very close to the resistance level. $0.909 is the level where the resistance of the trendline is currently present. The price is trading flat between the level of $0.922 and $0.736. Its next possible resistance is present near the level of $1.159, marked as Resistance 2.
The token is currently in a consolidation phase which can be confirmed by the Bollinger Band. If we observe on the chart the band of the indicator is squeezed, which indicates that the price is witnessing a low volatility. Token’s price is currently trading near the upper band of the indicator and it can witness some selling pressure here. The upper band of the indicator is present at the level of $0.899.
The lower band of the indicator is present at the level of $0.743, which can act as a support for the price. The price can show a massive rally on either side in the coming days as the Bollinger band is squeezed. If we talk about the Relative Strength Index (RSI), it is placed well above the level of 50. It shows that the momentum has been shifted towards bulls.
Conclusion
The LQTY coin price has been consolidating in a range for more than a month and the Bollinger band is squeezed. This indicates that the price is ready to sprint on either side. If the price breaks the resistance level of $0.922, it can unlock the level of $1.159. Suppose the price breaks the support level of $0.736, it can try to move towards the $0.600 level.
Technical level
Resistance – $0.922 and $1.159
Support – $0.736
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.