Digix from the previous analysis was trying to climb higher but LISK, from this piece, is really doing that. As for now, we are up almost 10% but is this upswing sustainable and can it be a start of something bigger? In our opinion no but first, let us look at the previous piece about this coin, written on the 24th of July:
“Currently, the price is testing the lower line of this formation, which creates a interesting buying opportunity. I would not go there though. I cannot see any demand here and it looks like the price is much closer to the breakout and to make new lows. „
The price was around 4,83 USD and we were totally right. The price failed to bounce from this level and went significantly lower. On Saturday, we reached lows on the 2.75 USD, since that we are experiencing a reversal but we dare to question its durability. 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.