Lisk is the true “leader of today’s losers”

Lisk is the true “leader of today’s losers” as the currency pair has lost nearly eight percent in the past 24 hours. LSK/USD seems to hold general bearish moods as the currency pair has significantly fallen from its May highs. However, Lisk managed to leave the red descending midterm trend line and is trading higher at the moment of writing.

Let’s have a closer look at what is happening inside the Fibonacci retracement formation. Lisk price is close to the support area at $10.3514, which coincides with 0.786 Fibonacci retracement level. LSK/USD has already crossed the green ascending trend line and several support areas as well as retracements.

The possible scenarios for Lisk are the following:

LSK/USD will break through the support area at $10.3514 and develop its downside progress towards the next support area at $9.9868, which coincides with one retracement level. If successful, bears will be able to push the currency pair even lower.

Lisk will jump off the support area at $10.3514 and run towards the closest 0.618 and 0.5 retracement levels. If bulls manage to break them through, they will be able to reach the closest resistance area at $10.9237.

There will be no significant price changes today.

Check the full crypto analysis HERE