• The short and medium-term outlook is in the downtrend.
• Readers may consider selling at key area.

LSK/USD Medium-term Trend: Bearish

Supply zone: $3.00, $3.50, $4.00
Demand zone: $2.00, $1.50, $1.00

LSKUSD continues in a bearish trend in the medium-term outlook. The bullish exhaustion at $1.78 around the trendline during yesterday session returned the bears. The confluence from the inverted bearish hammer coupled with the resistance at the 50-EMA all confirm the downward movement of the coin as price fell to $1.61 before the end of the session.

The 4-hour opening candle at $1.68 closed bearish doji with the next candle a bearish confirmed the bears' control. The cryptocurrency plunged further down to $1.55 in the demand area as the bearish momentum increased.

$1.50 in the demand area is the bears' target with pressure getting much stronger as the journey down south continues as confirmed by the signal of the stochastic oscillator pointing down at 21%.

LSK/USD Short-term Trend: Bearish

LSK continues in a bearish trend in the short-term outlook. The large engulfing candle at $1.75 during yesterday session signaled the bears' takeover of the market. Today’s market opened on a bearish note at $1.67. The coin dropped initial to $1.57 and later to $1.54 in the demand area.

The two EMAs fanned apart which connote strength in the context of the trend and in this case the downtrend. The stochastic oscillator signal points down at 20% suggesting downward momentum in price in the short-term.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.