FxWirePro: Lisk forms shooting star and gravestone doji to signal weakness in minor trend, expect stability in major trend on Core 1.0 Beta
Wednesday, May 30, 2018 6:02 AM UTC
Lisk (LSKBTC at POLONIEX) has tumbled from the highs of 0.003398 levels to the current 0.001177 levels. The pair has formed shooting star on daily and gravestone doji on weekly plotting to signal weakness. While both leading and lagging indicators substantiate this bearish sentiment.
Both RSI and stochastic curves show downward convergence that indicates strength and momentum in the selling sentiments. MACD, on the other hand, shows bearish crossover to indicate downtrend to prolong further.
Approximately a month ago, when the Core 1.0 Beta Testing was announced by the developing team and since then, many have been anxious and waiting, where Lisk has been renowned as the top 3 ranked public blockchain project by the CCID: China’s Ministry of Industry & Transformation Technology.
There are many factors investors and traders consider before opting to buy or invest in a cryptocurrency. As the whole crypto market experienced the power of the bear and most dwelled in red for several weeks, many ask why people are still buying Lisk.
One factor which attracted people to Lisk recently was its addition to Abra which is, of course, a leading crypto exchange platform, particularly in Asia. Then there were the team’s efforts to update the platform to make it all the better and stable.
Such factors and events only mean stability for the cryptocurrency. Sustainable progress would only mean that Lisk has a role to play in the long run and would potentially exhibit prolific performance. Its numbers seem impartially well too if you plot the technical charts as it still maintained a good market value even after some corrections on the market for the great crypto boom late last year and early January.
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