Even though we see some cracks in the facade of the recent cryptocurrency uptrend, some markets are still performing well beyond expectations. The Lisk price, for example, is still up by 1109% over the past 24 hours, pushing the value to over $35. This means the Lisk price is still pretty close to its all-time high, although it remains to be seen if that record can be broken.
Lisk Price Remains Pretty Bullish
As is usually the case during the weekend, most of the top cryptocurrency markets go into a sort of consolidation mode for a few days. Bitcoin, Ethereum XRP, and Bitcoin Cash are still in the green, but marginally so. There are very few coins noting any spectacular gains, but the Lisk price is an exception in this regard. Thanks to the overnight 11.09% gain, things are looking pretty good for this particular altcoin as of right now.
Even though the Lisk price is close to its all-time high of $37.80, it remains to be seen if a new record can be set. While the current gain is rather impressive, the previous all-time high earlier this week was rejected pretty quickly. It is evident upward momentum in the cryptocurrency world is hard to come by, especially when it comes to sustaining the price trend for more than a few days. If the Lisk price were to surpass the all-time high, it’s very likely there will be a major sell-off shortly afterward.
These current gains are not just the direct result of the Bitcoin price increasing in USD value either. Although that certainly helps to move things along as we speak, the Lisk price is also in the green thanks to an improvement in the LSK/BTC ratio itself. Over the past 24 hours, that ratio has increased by as much as 3.98%. It may not appear like a stellar gain, yet it does push the Lisk price back over $35 without too much effort.
With just $101m in 24-hour trading volume, Lisk seems to suffer from a fate similar to most other outcomes. A decrease in overall trading volume is still clearly visible across all markets, even though it only seems to be a matter of time until things improve once again. This current volume is sufficient to keep the Lisk price uptrend going for a little while longer, although no one should expect any major gains in the next few hours either.
Lisk is quickly becoming rather popular in South Korea, by the look of things. LSK Can be traded on the country’s second-largest cryptocurrency exchange in the form of Upbit. Coinegg comes in second place, followed closely by Binance and Bit-Z. Bittrex is the final exchange in the top five right now. It seems the Lisk trading volume is spread out evenly across all of these platforms,. We also see 14 trading pairs generating over $1m in 24-hour volume, which is rather interesting to note.
For now, it is advised for Lisk holders to cash out profits while the uptrend remains in place. It is difficult to wait until a new all-time high is reached, even though that may not necessarily happen today. In fact, it may take a few more weeks, if not months, until that happens, for all we know. Rest assured this weekend may prove to be quite interesting when it comes to the Lisk price.