2019-7-23 16:57 |
Lisk has a bearish short-term outlook, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that LSK / USD bulls are attempting to create a bullish inverted head and shoulders pattern The daily time frame continues to show a large broadening wedge pattern Lisk / USD Short-term price analysis
Lisk has a bearish short-term outlook, with the cryptocurrency still trapped below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that the recent upside recovery in the LSK / USD pair may help to create a large inverted head and shoulders pattern.
Technical indicators on the four-hour time frame are bullish, although they are starting to appear overstretched.
LSK / USD H4 Chart by TradingView
Pattern Watch
Traders should note that failure to create a bullish inverted head and shoulders pattern could provoke heavy short-term technical selling.
Relative Strength Index
The RSI indicator on the four-hour time frame is also bullish, although it has moved into extreme overbought territory.
MACD Indicator
The MACD indicator on the four-hour time frame is bullish, although the MACD signal line and histogram are now overbought.
Lisk / USD Medium-term price analysisLisk has a bearish medium-term bias, with the cryptocurrency still trading below its trend defining 200-day moving average.
The daily time frame is showing that a large broadening wedge pattern is still in play, with the LSK / USD pair performing a strong technical bounce from trendline support.
Technical indicators on the daily time frame are attempting to turn bullish, although the buy signal is still relatively weak.
LSK / USD Daily Chart by TradingView
Pattern Watch
Traders should note that broadening wedge patterns are typically considered neutral and usually favor range-bound trading until a confirmed breakout occurs.
Relative Strength Index
The RSI indicator on the daily time frame is neutral and is currently failing to generate a clear trading signal.
MACD Indicator
The MACD indicator on the daily time frame is attempting to turn bullish alongside the recent advance in the LSK / USD pair.
ConclusionLisk is approaching a critical juncture over the short-term horizon, with a strong technical rejection or the formation of a large bullish pattern likely to occur.
The medium-term prospects for the LSK / USD pair appear more stable, with the daily time frame pointing to an extended period of range-bound trading ahead.
Check out what Lisk is about in our coin guide.
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The post Lisk Price Analysis LSK / USD: Technical Crossroads appeared first on Crypto Briefing.
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