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Liquity Price Analysis: LQTY rejects upside at $1.25, more downside to follow?

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TL;DR Breakdown

  • The Liquity price has leveled down to $1.12.
  • Liquity price analysis favors the bears.
  • Support is rigidly standing at $1.24.

The Liquity price analysis shows a bearish trend with the bears dominating the market. The bears have taken control of the price and rejected any upside attempts at $1.25. The market opened trading in bullish pressure, and the token rallied above the $1.25 mark but faced resistance from the bears at that point and went into a downward spiral, and has traded below $1.24 for most of the day. At the time of writing, Liquity is trading at $1.25, down by 1.79% in the last 24 hours.

Liquity price analysis 24-hour chart: LQT price follows a downward path to $1.25

The one-day Liquity price analysis depicts a downtrend for the day, as the bears have been in the lead for the past few hours. The trends took an unexpected shift, resulting in a bearish win over the bulls and a rejection of any attempts to move above $1.25. The market capitalization has also followed a downward trend and is currently trading at $113,922,247. However, the trading volume is on the rise at $11.16, indicating some confidence in the asset from investors. 

image 989Liquity Price Analysis: LQTY rejects upside at <img decoding=
LQTY/USD 4-hours price chart. Source: Tradingview

The RSI is trading at 35 after the token faced rejection and fell. The RSI curve fell out of the overbought zone and is also had a downtrend since the token started falling. The RSI curve has crossed the 20 SMA curve, indicating a bearish trend for the short term. The Chaikin Money Flow is also trading at 0.02, which indicates that capital is leaving the market due to bearish sentiment. The MACD line is also trading lower than the signal line, indicating a bearish trend for the day.

Liquity price analysis 4-hour chart: Bears dominate the market as selling pressure increases.

The 4-hour Liquity price chart analysis is also bearish for the day. The token has been trading within a range of $1.25 – $1.23 and currently trades at the lower end of this range at $1.12. The red candlestick has been dominating the market, indicating a bearish sentiment amongst investors and traders. The support offered by the bulls at $1.24 has kept the price from breaching any lower levels, and it looks like this level of support will be tested once more. If the token fails to breach this level, then more downside could be expected in Liquity’s future prices as a result.

image 990Liquity Price Analysis: LQTY rejects upside at <img decoding=
LQTY/USD 4-hours price chart. Source: Tradingview

The Chaikin Money Flow has also been trading lower than 0, indicating that investors are selling off their positions as the sentiment turns bearish. The MACD has also crossed below the signal line, forming a bearish crossover and signaling further downside for Liquity’s prices. The histograms are decreasing in size, which indicates a decrease in the buying pressure. The Relative strength index is also trading at the 41 level, which indicates that the market has entered the neutral zone.

Liquity price analysis conclusion

Overall, Liquity price analysis shows that the trend is currently bearish and could continue to be so for the short term. The token has strong support at $1.24, and if it fails to breach this level, then more downside can be expected from LQT prices. However, if bulls manage to push the token above $1.25, then it could be an indication of a bullish reversal, and investors should look out for possible upside opportunities.

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.

文章来源于互联网:Liquity Price Analysis: LQTY rejects upside at $1.25, more downside to follow?

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