The current LSKBTC downtrend has been more imminent, the pair has constantly been sliding below EMAs ever since the formations of shooting star pattern candlestick, while both leading oscillators substantiate the bearish strength.
These bearish patterns have occurred at 0.0007407, 0.0005355 and 0.0005400 levels. For today, the bears are drifting in narrow-range. Strong support is observed at 0.0004187 and tight resistance at 0.0004785 levels.
While fundamentally, voters earn LSK as block producers share part of their forging rewards. Less return to delegates would mean less allocation to voters. Node block rewards on the delegated proof-of-stake Lisk (LSK) fall by a quarter on Wednesday. There has been a number of significant implications of the network enforcing this change.
If any LSK distribution and utilization has been in scarce would imply that each individual token is worth more, nonetheless, global markets should adjust perception towards LSK to correct for any significant price effects.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing -141 (which is bearish), while hourly USD spot index was at 75 (bullish) while articulating (at 12:13 GMT). For more details on the index, please refer below weblink:
