FxWirePro: Lisk Still at Risk Despite 78.6% Fibonacci Retracement and Technological Advancement

Per time of articulating this write-up, LSKBTC price has been attempting to spike higher for the day at current 0.0005018 levels, but the Lisk price trend is restrined within the tight range (refer rectangular area on 4H chart).

While the bears have retraced its stern downtrend almost upto 0.00048428 (i.e. 78.6% Fibonacci levels), where it tested a strong support (refer daily chart). 

While the technical indicators have been indecisive but signals faded strength and struggling momentum (refer 4H chart). 

The Lisk project was originally instigated through ICO channel in 2016 that was followed up with the MainNet launch three months later the same year. One of the unique features that this cryptocurrency brings to the verse is giving the ability to developers to use JavaScript for creating dApps.

A secondary phase of investment flow is seen in sidechain project MADANA, as per the announcement of Max Kordek, Co-Founder and President of Lisk.

Because he thinks, the prosperous and authentic blockchain applications would make the foundations of the future Lisk ecosystem.

However, Lisk prices are succumbing to bears since late August that has been significant to end the 2018 in the gamut of cryptocurrency bearish rout. No traces of dramatic bullish overturn is seen for now, instead, we could foresee more dips on cards.

Currency Strength Index: FxWirePro’s hourly BTC spot index is flashing at -130 (which is bearish), while hourly USD spot index was at -40 (bearish) at 10:47 GMT. For more details on the index, please refer below weblink:



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