While the Lisk digital token has only been trading for about seven days on the Delaware-based digital currency exchange Poloniex, the Lisk charts show some distinct price level that may be of interest to investors and speculators.
For instance, the 0.0008 price level has been used multiple times as support/resistance since May 28th; three times as support between last Thursday and Friday; two times as resistance on Sunday. Since breaking underneath 0.0008, market volume has thinned out a great deal and price has started to grind in a very tight range. Market participants are clearly aware of this zone and will most likely stay on the sidelines until price makes its way near this pivot zone again.
Since May 24th, which marks the first day of trading for Lisk, the 0.0006 area has also played an important role as well. On the 25th, this level acted as resistance on two occasions. When price retraced down to this level on the 28th, 0.0006 started acting as support. At present, price is essentially trapped between these two technical areas, and I would also argue that most traders will be waiting for a break of either of these levels before making any trades.
Chart Source: https://poloniex.com/exchange#btc_lsk
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
The U.S. Securities and Exchange Commission has approved Bitwise’s spot Chainlink ETF, marking the first…
Rumble and Tether have officially launched the Rumble Wallet, a self-custodial crypto wallet integrated directly…
BNB Chain is preparing to activate its Fermi hard fork on January 14 at 2:30…
Ethereum closes 2025 having firmly established itself as the secure foundation for an expanding digital…
Solana ends 2025 as one of the few blockchain ecosystems where revenue, assets, and trading…
Morgan Stanley has taken a decisive step into the regulated crypto investment market, filing its…