The LINA price prediction shows that buyers and sellers do not have a proper grasp of the trend. Investors may choose to wait for confirmation from technical indicators to converge to define trend direction. The green candles are piling up at the bottom, indicating that the LINAUSD price is attracting buyers in the bottom zone near $0.00963524.
The price of the LINA cryptocurrency will attract buyers towards the upper trend line of the consolidation phase on the daily chart. Meanwhile, the LINA price is trying to find support and rise towards the 20-day, 50-day, 100-day and 200-day moving averages.
Investor sentiment on the LINA price is currently undecided and may remain negative unless buyers actively participate in price movements. Nevertheless, given the technical indicators and price action, the probabilities are in favor of the bulls.
The LINA cryptocurrency is consolidating between $0.01259338 and $0.00963524. However, LINA fell by about 11.68% in one week, but rose by 15.56% in one month. Additionally, the price of the LINAUSD cryptocurrency fell approximately 3.15% over the past three months and by approximately 18.21% over the past six months. Moreover, the LINA crypto was bearish in May.
LINA Crypto Price is Consolidating
For LINA to enter the recovery phase, it needs more buyers. Currently, the price of LINA price is below the 20-day, 50-day, 100-day, and 200-day moving averages.
To break out of the consolidation phase, the cryptocurrency should register a significant price increase on the daily chart. In the past week, the price of LINA dropped by 15.20%, while it has decreased by 18.92% in the past month.
Technical indicators highlight a consolidation phase on the LINA chart. The Relative Strength Index (RSI) highlights the sideways momentum of the LINA. RSI was at zero line and is moving towards oversold territory. The MACD also highlights the consolidation phase on the chart. The MACD line is positioned beyond the signal line and waits for any kind of crossover. LINA investors should wait for a change in direction on the daily chart.
Summary
On the daily time frame, the value of LINA digital currency has been consolidating within a horizontal price range of $0.01259338 and $0.00963524. Nonetheless, in order to move towards the recovery phase, there is a need for an increase in buying pressure for LINA cryptocurrency. Technical indicators suggest that the LINAUSD cryptocurrency is experiencing a period of price consolidation. Therefore, LINA investors should closely monitor any directional changes on the daily chart.
Technical Levels
Support Level: $0.00963524.
Resistance Levels: $0.01259338.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/12/16/lina-crypto-linausd-is-caged-in-a-tight-range-what-next/