LQTY dips to lows of $1.223 as a firm bearish momentum builds – Cryptopolitan

Liquity price analysis reveals that LQTY/USD is currently in a bearish trend. The crypto asset has lost over 3.69% of its value since the beginning of today and is currently trading close to its all-time low. Technical analysis suggests that the bearish trend could continue in the near future as there has been an increase in selling pressure on LQTY/USD. The bears have been able to push the price below the $1.223 level, which could be a sign of further downside potential. The market cap of Liquity stands at $112 million, and the 24-hour trading volume is recorded to be $26 million.

Liquity price analysis 1-day price chart: Bears pulling the price below $1.223 resistance level

The 1-day Liquity price analysis chart features a descending triangle pattern, which indicates bearish sentiment in the market. The market’s volatility is following a decreasing trend. This means that LQTY/USD prices subject to fluctuations will fluctuate in the same direction as volatility; less volatility means less probability of the price shifting to either extreme. The upper limit of Bollinger’s band exists at $2.1413, while the lower limit is at $1.2755.

The relative strength index (RSI) has dropped below the oversold zone and is currently at 21.79. This suggests that LQTY/USD could soon break out of this triangle pattern to the downside, leading to a further decline in price. Additionally, there is also a bearish divergence on the MACD chart. The MACD line has fallen below the signal line, confirming that selling pressure is increasing in the market.

LQTY/USD 4-hour price chart: Recent updates

The 4-hour timeframe suggests a bearish head and shoulders pattern on the chart. The neckline of this pattern exists at $1.223, indicating that if prices break below this level, it could lead to further losses in LQTY/USD. The market momentum is also negative, indicating that the bears are in control of the market. The digital asset is trading below the significant support level of $1.17, so if the prices break below this level, it could be a sign of further bearish momentum.

The MACD indicator is showing a strong negative divergence, indicating further downside momentum in LQTY/USD. The relative strength index (RSI) is also below 50, suggesting bearish sentiment. Bollinger Bands are expanding, indicating increasing market volatility and suggesting that prices could experience more significant fluctuations.

Liquity price analysis conclusion

In conclusion, Liquity price analysis suggests that LQTY/USD is in a bearish trend and could continue to decline in the near future. Technical indicators suggest that there is an increasing amount of selling pressure on digital assets, and prices are likely to break below key support levels, leading to further losses.

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.