Technical Analysis: Lisk - Potential Bull Run Soon?

in analysis •  7 years ago  (edited)

After a huge run up to $8.60 last month, Lisk has been on a steady decline. It has found major support at $4 and going under that will be quite bearish. The MACD, a great indicator for trend reversals and upcoming price trends, is close to signalling a start to a bullish, upward trend. The MACD indicator in the picture below shows that the 12 day moving average (blue line) is about to cross the 26 day moving average (the orange). This means the average prices in the last 12 days is higher than the average prices of the last 26 days, indicating upward price action in the short term and a potential trend reversal.

Looking back to mid-July when the blue line crossed the orange line, the downward price action subsided and we saw upward price movement until early September. That's when the blue line crossed under the orange line (12 day moving average lower than the 26 day average) which indicated that a bearish, downward trend is starting, and that's what we have been in for the past month. Of course, please do remember that these indicators are just one of many tools to help us predict price actions but nothing is 100% accurate.

With the Asia tour over, upcoming catalysts are:

  • Rebranding in late October
  • Alpha release of the SDK in Q4 2017
  • Japanese, Korean & Indian exchanges adding Lisk - The Lisk team pitched to many exchanges during their Asia tour.



Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

@reported has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

        To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
        To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
        To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

    To receive an upvote send 0.25 SBD to @minnowpond with your posts url as the memo
    To receive an reSteem send 0.75 SBD to @minnowpond with your posts url as the memo
    To receive an upvote and a reSteem send 1.00SBD to @minnowpond with your posts url as the memo