Lisk (LSK) Technical Analysis: Needs To Break Above 1D Resisting Kumo Cloud, Bulls Look Weak

Lisk looked promising to follow suit with Stratis and Waves yesterday after the asset surged over 17% against BTC. News that the asset had been listed on Singapore-based exchange ABCC appeared to be the main driver for the new bullish support – carrying the asset from 35,650 Sats to a height of 41,939 Sats before correcting.

Going into today, we can see that LSK has struggled to hold onto yesterday’s double-digit gains, with the asset currently trading down 3.17% against BTC. The cause of this can likely be attributed to a typical market correction, with Bitcoin’s bullish recovery back over $4,000 today drawing investors away from the altcoin market, or intraday LSK traders dumping their bags after the exchange listing hype died down. Either way, in order to secure long-term bullish support, LSK will likely need to conjure up another bull rally in the short-term to help it break through the 1D resisting kumo cloud on the Ichimoku indicator. This will provide a strong bullish reversal signal that should help attract new longer-term investors into this project.

This article appeared first on Cryptovest

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