The recent Liquity price analysis shows a strong selling-off of the digital asset in the past few days. Its price has fallen from a high of $1.72 to its current value of $1.62, a decline of 4.70 percent in the past 24 hours. This has resulted in a bearish pattern for the cryptocu...
The recent Liquity price analysis shows a strong selling-off of the digital asset in the past few days. Its price has fallen from a high of $1.72 to its current value of $1.62, a decline of 4.70 percent in the past 24 hours. This has resulted in a bearish pattern for the cryptocurrency, as its price is expected to stay lower for some time.
The market for the LQTY/USD pair opened today’s session at $1.68, and since then, the pair has been trending downwards. On the upside, there is a strong resistance level of $1.72, which has been preventing the price from making any significant gains. If this resistance level holds, the token could face further losses in the near future.
Liquity price analysis 1-day chart: LQTY coin losses value at $1.62 after a bearish market
The daily chart for Liquity price analysis shows the crypto has been trading within a descending triangle formation for the past few weeks. Additionally, the bearish pressure has also been increasing in recent times and a breakdown from the triangle formation is likely. This indicates that the token could be headed for further losses in the near term, and reach the support level of $1.61, if the bearish pressure continues to strengthen.
The trading volume for the LQTY is also significantly low, indicating that the market is losing interest in the coin. The 24-hour trading volume stands at around $15 million. This could further contribute to the bearish pressure on the token’s price and prevent it from making any significant gains soon. The market capitalization of the token is also trending downwards and currently stands at $149 million.
The daily technical indicators for the LQTY/USD pair are also bearish. The MACD and RSI both indicate a downward trend, while the 50-day moving average has crossed below the 200-day moving average. This is further confirming a bearish market for the token in the near future. The Bollinger bands are also trending downwards, indicating a bearish market for the token. The lower Band is located around $1.44, while the upper Band is located around $2.49, indicating the volatility of the market.
Liquity price analysis 4-hour chart: Recent updates and further technical indicators
The hourly chart for Liquity price analysis shows the token has been trading in a bearish channel formation. The red candlestick pattern shows that the bearish pressure is intensifying, and a breakdown from this channel could result in further losses for the token. The 4-hour technical indicators are also largely bearish, indicating that the price could lead to further losses in the coming days. The MACD shows a bearish crossover and is trending downward, suggesting they might stay lower for some time. The RSI value currently stands at 32.76, and if bearish persists, it could reach the oversold territory.
The Bollinger bands indicators on the four-hour chart are converging, suggesting that the price could enter a period of low volatility. The upper Bollinger band is trending downwards at $1.83, which may act as a strong resistance level in the near term, while the lower Bollinger band is trending downwards at $1.59, which could serve as a strong support level for the token’s price.
Liquity price analysis conclusion
In conclusion, the Liquity price analysis shows a strong bearish trend in its price. The token is currently facing rejection at $1.72 and could be headed for further losses if the bearish pressure persists. Additionally, the low trading volume and weak technical indicators suggest that the token’s price could remain stagnant or even decline soon.