The short and medium-term outlook is in a range-bound market.
Patience is required at this period.

LSK/USD Medium-term Trend: Ranging

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

LSKUSD continues in a range-bound market in the medium-term outlook. The market had the bulls in brief control as the market opens at $2.11. LSKUSD rose to $2.28 as price breaks out of the upper price area. The momentum was lost as denoted by the wick in the candle and closes within the range with $2.02 as the low of before the end of the session.

The bears sustained the momentum as the market opens today at $2.10 with price down to $2.03 within the range. The signal of the stochastic oscillator points down at 22% and price is below the two EMAs, an indication of bearish continuation in the medium-term.

LSKUSD is in consolidation and trading between $2.20 in the upper supply area and at $1.95 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

LSK/USD Short-term Trend: Bearish

LSK is in a bearish trend in the short-term outlook. The bears' gradual return to the market was signaled by the bearish spinning top formation at $2.17. The confirmation of the bears' takeover occurred at the break of the two EMAs crossover with another spinning top at $2.11. LSKUSD fell to $2.02 as the session ended yesterday.

Rejections at the trendline suggest bullish exhaustion hence the continuation of the downward price movement after the market opens today.

Price is below the two EMAs and stochastic oscillator signal points down at 31%. These imply downward momentum in price with $2.00 in the demand area as initial bears target.

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