Did you notice a chart pattern before the directional move?The Lisk coin has formed the double bottom formation near the 2022 year’s lowest level.
The price action of Lisk Coin is providing an upward parallel channel in the context of the daily price chart.
LSK Coin managed to sustain price above the 100-day moving average, which acted as a bullish barrier.
The daily price chart of Lisk coin is trading above important moving averages such as the 20,50 and 100 EMAs. The 20-EMA acts as a support level for the buyers. And recently the bulls took support of the 100-EMA line, which ensures the stability of the bullish momentum.
On 28 February, the RSI and MACD indicator generated bullish signals, where the RSI managed to stay above the halfway line (50-point) and move above the uptrend line (blue). And MACD lost negative region and moved above neutral zone.
There is no doubt that the bulls are aggressive on buying the riskier coin and they continue to push the price higher. And the technical indicators are also in favor of the LSK holders and the bulls may take a rest after reaching the next resistance level of $3.0.
Resistance level- $2.4 and $3.0
Support level- $1.40 and $1.0
