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Liquity price analysis: LQTY steps down to $1.34 as selling pressure rises

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TL;DR Breakdown

  • Liquity price analysis is strongly bearish today.
  • Resistance is present at $1.42.
  • The support for LQTY is present at $1.21.

Today’s Liquity price analysis leans towards bears, driven by an observed decrease in price. The market follows a bearish trend, facing losses as the price remains below $1.45 and descends to $1.34. The strengthening bearish momentum suggests a possible further decline.

LQTY/USD 1-day price chart: Bearish sentiment prevails as Liquity price analysis points to a decrease in value.

The bearish trend confirmed in the latest one-day Liquity price analysis is causing the price to decline once again. At the time of writing, the LQTY/USD pair is trading at $1.34 as selling pressure dominates the market and bearish momentum resurfaces. Despite this, the crypto pair still shows a 3% increase over the last 24 hours and impressive gains of 13% over the past week. Additionally, the trading volume has risen by 52%, resulting in a market dominance of 0.01%.

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The volatility is on the rise, with the upper limit of the Bollinger bands at $1.94 and the lower band value providing support at $1.25 for the cryptocurrency. The Relative Strength Index (RSI) currently stands at 38, signaling downward movement and suggesting selling pressure as traders dispose of their assets.

Liquity price analysis: Recent developments and further technical indications

The four-hour Liquity price analysis indicates a strengthening bearish momentum, with the price experiencing a further decline in the past four hours. While a downtrend persists, the bulls made their last appearance at the end of the previous trading session. Today, the bears have regained control, but the price remains above the current moving average (MA) value of $1.25.

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LQTY/USD 4-hours price chart. Source: Tradingview

The volatility has been the same on the 4-hour chart, which means that chances of recovery may come in the coming hours. The Bollinger bands Indicator dictates the following values; the upper value is currently at $1.94, whereas the lower value is at $0.98, representing support for LQTY as the price moves towards the lower band. The RSI curve is continuously moving down as the selling pressure is immense, and the RSI level has now decreased to index 38 in the lower half of the neutral zone, implying the selling pressure.

Liquity price analysis: Conclusion

The price is once again moving downwards, as confirmed by the one-day and four-hour Liquity price analyses. Today, the market has been characterized by a bearish trend, leading to the observed decline in price. The bears have held the upper hand for the past 12 hours, but there is a chance of bullish assistance emerging in the near future if signs of bearish exhaustion become apparent. However, if selling pressure persists, LQTY may potentially revisit the support zone around $1.21.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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