Lisk has been on an absolute tear as it surges by a total of 100% in the past 20 days alone! This latest price surge has allowed Lisk to rebound from the 2020 low at around $0.50 to climb higher and break above the 100-days and 200-days EMA. The bull run did not stop at the 200-days EMA as it continued to rise further higher to break above $1.00 and rise as high as $1.13 before rolling over and dropping slightly.
This monthly price increase has been helped by the fact that Bitcoin managed to rise above the $9,000 resistance level during January 2020. However, it is mainly due to the fact that Lisk has also been surging against BTC itself as it climbs higher to break above the 0.0001 BTC resistance level.
Lisk has now risen into the 54th ranked position as it presently holds a total market cap value of around $128.65 million.
Lisk Price Analysis
LISK/USD - MEDIUM TERM - DAILY CHART
What Has Been Going On?
Looking at the daily chart above, we can clearly see the continuous downward pressure that Lisk faced during 2019. It was grinding lower all year and did not stop until support was found at $0.46 - where the rebound had occurred. After bouncing, Lisk went on to climb into resistance at $0.60 where it had closed trading for 2019.
During the first month of 2020, things started to look great for Lisk as it smashed above the $0.60 resistance and climbed higher. It continued to slowly grind higher, breaking above the 100-days EMA at around $0.75. In the most recent trading session, we can notice the 28% price explosion which saw Lisk rising from $0.88 and rocketing higher above $1.00 until resistance was found at $1.13. This area of resistance is provided by a long term bearish Fibonacci Retracement level which is measured from the June 2019 high of $2.20 to the December 2019 price low. It has since dropped slightly from this resistance as it presently trades at $1.04.
Lisk is now considered to be bullish in the short term after creating a fresh 2-month high. For the bullish run to continue further, we must see Lisk rising above the $1.13 resistance level to confirm a medium termed bullish trend. If Lisk was to drop beneath $0.80 it would be considered as neutral with a further drop beneath $0.60 re-igniting the previous bearish trend.
Where Can We Go From Here?
After such a heavy 28% price increase over the past 24 hours, we can expect LISK to pull back and drop slightly from here. If this is the case, the first level of support can be expected at $1.00. If the selling continues to push Lisk beneath the support at $1.00, additional support is then expected at $0.95 (200-days EMA), $0.88 (short term .382 Fibonacci Retracement), $0.80 (.5 Fib Retracement), and $0.72 (.618 Fib Retracement & 100-days EMA). Lisk is unlikely to head this low but these are the support levels we can expect if it does drop.
Alternatively, if the bulls manage to hold the support at $1.00 (or even the 200-days EMA) and continue with the bullish price run we can expect the first level of strong resistance to being located at $1.13. Above this, resistance lies at $1.25 (1.282 Fib Extension), $1.33 (bearish .5 Fib Retracement), and $1.41 (1.618 Fib Extension).
If the buyers can continue to climb above $1.50, higher resistance lies at $1.54 (bearish .618 Fib Retracement), $1.70, and $1.83.
LISK/BTC - MEDIUM TERM - DAILY CHART
What Has Been Going On?
Analyzing the daily chart above, we can also see the bearish pressure apparent during 2019 in the LISK/BTC market. It continued to drop throughout the entire year and even went on to create a further low at 0.000068 BTC during January 2020. However, Lisk did go on to rebound from here as it started to climb toward the middle of January.
It eventually managed to climb above the resistance at the 100-days EMA at 0.00009 BTC and continued to create a fresh higher above 0.0001 BTC in the most recent trading session. After breaking 0.0001 BTC, we can see that Lisk exploded higher until finding resistance at 0.000117 BTC which is provided by a bearish .5 Fibonacci Retracement level - measured from July 2019 highs to the January 2020 low. This area of resistance is further bolstered by a 1.618 Fib Extension in the same area.
Lisk has dropped slightly from this level of resistance but has managed to find support at 0.00011 BTC. The recent price rise has certainly turned Lisk bullish in the short term after it created a fresh 5-month high against BTC. For Lisk to be considered as neutral, it must fall and drop beneath the support at 0.00009 BTC. A further drop beneath 0.00008 BTC would turn Lisk bearish once again.
Where Can We Go From Here?
If the sellers push Lisk beneath the support at 0.00011 BTC, we can expect additional support to be located at 0.00011 BTC and 0.000104 BTC. Beneath this, support lies at 0.000099 BTC (short term .382 Fibonacci REtracement), 0.0000934 BTC (.5 Fib Retracement), and 0.0000875 BTC (.618 Fib Retracement).
On the other hand, if the bulls hold the support at 0.000111 BTC (or even at 0.0001 BTC) and rebound higher, the first level of resistance lies at 0.000117 BTC. This is closely followed with additional resistance at the 0.00012 BTC which is provided by the 200-days EMA. Above this, resistance lies at 0.000129 BTC (bearish .618 Fib Retracement), 0.000132 BTC (1.272 Fib Extension), and 0.00014 BTC (1.414 Fib Extension).
If the bullish pressure continues to drive Lisk above 0.00014 BTC, resistance lies at 0.000145 BTC (bearish .786 Fib Retracement) and 0.00015 BTC (1.618 Fib Extension).
