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Liquity price analysis: LQTY  price sinks to $1.06 after a  strong bearish day

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TL;DR Breakdown

  • Liquity price analysis is bearish today.
  • Resistance for LQTY is present at $1.21.
  • Support is present at $1.03.

The Liquity price analysis shows a drop in price has been observed today,  with LQTY sinking to $1.06 after a strong bearish day. The price has been consolidating for the past few days, and was unable to break out of resistance at $1.21. The price is currently stuck between the support at $1.03 and resistance at $1.21, with no clear sign of a trend reversal or breakout in sight. The LQTY bulls will have to break out of this range decisively for the cryptocurrency to resume its uptrend. A break below the support at $1.03 could see further losses for LQTY, taking it down toward its next major support at $0.95. 

Most of the cryptocurrencies today are in the red, with some coins like BTC, ETH, and Binance Coin recording losses of more than 30%. LQTY is also feeling the pressure as it has dropped close to 12% today. The selling pressure is likely to continue in the near term as traders remain wary of the current market conditions. 

LQTY/USD 1-day price chart: Bear continues to degrade the price level

The price is going down once again as a bearish trend has been confirmed from the 1-day Liquity price analysis. The price had been improving significantly in the previous days, as an upward trend was taking over the market. But a notable drop in LQTY/USD value has been observed today again as the price has fallen to the $1.06 level and still continues to cover the downward range. 

The market cap of LQTY is currently at $97,099,577, with a decrease of 13.35% in the past 24 hours, indicating a selling pressure in the market. The circulating supply of LQTY is composed of 92,394,328 tokens, and the market dominance rate stands at 0.01%. However, the trading volume in the past 24 hours has been relatively high at $18.17 million, with an increase of 123%, indicating that traders are still actively trading the coin. 

image 175Liquity price analysis: LQTY  price sinks to <img decoding=
LQTY/USD 1-day price chart, Source: TradingView

The technical indicators are still bearish, with the RSI currently trading at the 28.60 level, indicating that the market is in oversold territory. The MACD, on the other hand, is giving a bearish signal as the histogram is falling and is about to cross below the zero line. The MACD line is clearly below the red signal line and seems to be gaining strength. The Chaikin Money Flow index is also giving a bearish signal, as it has dipped below the zero line and may continue to remain in negative territory. 

Liquity price analysis: Bears rule LQTY’s price action

The 4-hour Liquity price analysis confirms the bearish trend as the price underwent more decline today. The 20-EMA and 50-EMA are showing a strong bearish trend as they have both crossed below the 100-EMA, indicating that the bears are in complete control of LQTY’s price action. The red candles on the 4-hour chart indicate that the selling pressure is continuing to increase as traders remain bearish on the coin.

image 176Liquity price analysis: LQTY  price sinks to <img decoding=
LQTY/USD 4-hour price chart, Source: TradingView

The market decline shifted to the bearish sentiment as indicated by the RSI line, which is headed below the 30.00 level. The RSI indicator is currently trading at 24.20, indicating oversold territory. The MACD indicator is also signaling a further decline as the histogram is falling and about to cross below the zero line. The Chaikin Money Flow indicator is also giving a bearish signal as it has been trading below the zero line for some time, indicating that money is flowing out of the market. 

Liquity price analysis conclusion

Overall, LQTY’s bearish trend is likely to continue in the near term. The price may remain stuck between the support at $1.03 and resistance at $1.21 without any sign of a trend reversal or breakout. A break below the support could lead to further losses for LQTY, taking it down toward its next major support level at $0.95.

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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