Technical Analysis: Lisk - Potential Bull Run Soon?

cryptotanalysis (40) 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.

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7 years ago by cryptotanalysis (40)

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