• The short and medium-term outlook is in the downtrend.
• Responsible selling recommended at key areas

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 downtrend in the medium-term outlook. The bulls manage to push the cryptocurrency up around the trend line at $2.16 on 8th June. This remained a market correction to the bearish impulsive move of 30th May and also a confirmation of the downtrend continuation.

Hence the bounce from the trendline as the bears resume the journey down south. Price fell to $1.84 in the demand area.

Price is around the trend line again due to another the corrective move by the bulls that got price up to $2.09 around the trendline as the market opens today.

A bounce to the downside is most probable as the bears return to drop the cryptocurrency price to a new low in the demand area with $1.80 as the target.

LSK/USD Short-term Trend: Bearish

LSK is in a bearish trend in the short-term outlook. The bullish momentum was lost shortly after today’s opening at $2.09 in the support area. There was a sign of exhaustion as bearish inverted hammer emerges shortly after opening.

The stochastic oscillator signal points down at 49% while price is going up which create a divergence. The implication is price movement to the downside because sellers are more in the market and a drop in price is imminent.

$1.85 is the initial target as the bear pressure resumes.

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