Long
Lisk Bullish Divergence
After Lisk found the bottom at $7.7, bullish divergence was formed on the RSI oscilater and price went up almost immediately. While moving higher LSK/USD broke above the descending channel and then the downtrend trendline, reaching $10 high.
The corrective wave down followed and was stopped at the 61.8% Fibonacci retracement level, that is $8.6. The Fib support has been rejected cleanly, although Lisk contiues to consolidate near that level.
It seems that now the broken downtrend trendline is now acting as the support and could be the starting point for list to start moving higher. The upside target is seen at $15.5 area, that is 427.2% Fibs applied to the current corrective wave down.
At the same time, daily break and close below $8.6 might invalidate bullish outlook and would probably extend the consolidation, rather than result in a continuation of a downtrend.
The corrective wave down followed and was stopped at the 61.8% Fibonacci retracement level, that is $8.6. The Fib support has been rejected cleanly, although Lisk contiues to consolidate near that level.
It seems that now the broken downtrend trendline is now acting as the support and could be the starting point for list to start moving higher. The upside target is seen at $15.5 area, that is 427.2% Fibs applied to the current corrective wave down.
At the same time, daily break and close below $8.6 might invalidate bullish outlook and would probably extend the consolidation, rather than result in a continuation of a downtrend.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.