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Lisk at Bittrex forms shooting star and hanging man patterns that have shown their bearish effects.
You could see price slumps below 7DMA, for now, more dips seem to be on cards upon bearish MACD & DMA crossovers. 7DMA crosses below 21DMA, while MACD also shows bearish crossover that signal bearish trend to prolong further.
The momentum indicators (RSI & stochastic curves) in bears favor (Refer daily plotting of LSK against BTC at Bittrex).
Current prices are well below 7DMA, and next strong support is seen at 0.00187337 levels.
While on weekly terms, shooting star has occurred at 0.0024179 levels in intermediate trend to signal weakness. Consequently, the price has dipped below 7WMA levels.
Well, contemplating above technical rationale, we could foresee short-term selling opportunities, while accumulate longs on dips would be the strategy for long term.
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