Lisk price analysis

LSK/USD Long-term Trend: Bearish

Key resistance levels: $2.5, $3.5

Key support levels: $1.3, $1

Having been on a long decline, Lisk appears to have gone on a bullish reversal, although the token couldn't surpass the $1.7 price level last week. The positive move is revealed on the daily MACD, which is swinging above zero level. LSK is currently indecisive with choppy price action as trading levels at around $1.54. This is reflected on the daily RSI lying horizontally on the 80 line.

From a long-term perspective, a successful surge above $1.7 could propel the price to the nearest resistance levels at $2.5 and $3.5 in a concurrent move. The current indecisive market is likely the result of low buying pressure from the bull sides after the test of $1.7.

On the other hand, a low play could drive the price to $1.3 and possibly even back to the rising area at the $1 support level. With such a scenario, the MACD and the RSI should trend below their positive zones. However, the token is expected to witness more upward movement in the coming days following the recent positive signal.

LSK/USD Medium-term Trend: Bullish

Lisk's bullish flow is clearly revealed on a medium-term perspective following a head and shoulders (H&S) pattern after the last week's surge at the yellow trend line. The actual picture is revealed on the 4-hour MACD. As it appears, the buyers seem to be losing momentum.

Comparing the divergence move on the 4-hour MACD to the bullish H&S pattern, Lisk might soon experience a medium-term bearish turn as signaled on the indicator. For an anticipated decline, LSK is likely to find support at $1.4, nearing the yellow trend line. Another sign for a fall lies at the 'neck' break of the H&S. A drive beneath the yellow line would reposition the token in bearish territory.

Whichever way, a strong buying force could drive the price to the $1.65 resistance and above, positioning the 4-hours RSI at a significant high zone. But for now, a downward move is more likely to play out than an upward move.

LSK/USD Short-term Trend: Bullish

Looking at the short-term chart, Lisk remains in a bullish trend following last week's gradual incline with a high of $1.75 before a retrace, now sitting on the trend line. The bigger picture is shown on the hourly MACD as the current bullish momentum signal level is weak, reflecting low price volatility.

At the moment, the bears are reaching exhaustion. A surge could probably propel the price to the $1.65 and $1.75 resistance levels. If these levels are breached convincingly, another bull run is in play for listk. By then, the MACD and RSI would clearly wave at a positive area.

However, a break below the yellow trend line could swing the price low to test the $1.4 support level and below. As it stands now, a bearish play out is compounding.