Cryptocurrency
by Seth Parker on August 23, 2018

Lisk Analysis – Very miserable bounce

Thursday starts with the analysis of the Lisk, which for the last time, was mentioned by us on the 13th of August. Back in that day, the price was trying too initiate a reversal. We acknowledged that but in the same time, we were rather sceptical about the potential duration and hight of this rise:

„In my opinion, today’s rise is just a one time thing and we should soon come back to the drop. If You are thinking about buying, encouraged by the +9%, we have to say that it is not the best idea and you should be rather sceptical. „

Lisk Chart

Since those words were written, the price indeed went higher but only around 1 USD. As You can see, the main resistance is around 4.7 USD (yellow colour). Despite the correction mode, the LSK could not even get there! The price stopped on the psychological barrier of 4 USD and is not moving any higher. That does not look too optimistic for the future. With this kind of a price action, so the price being below major resistances, we should soon see the further decline.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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