LQTY price backtracks to $1.17 as bears regain dominance – Cryptopolitan

Liquity price analysis shows that its price is bearish today. LQTY’s price has primarily traded in the red over the past week, and its price has been steadily falling. The LQTY price failed to maintain its upward trend and fell to $1.23 yesterday before rising to $1.17 at the time of writing. The price has dropped by more than 5.99%. The price may move lower over the next 24 hours to test support at $1.16 if bearish momentum persists and the price is unable to rise above the resistance level. The 24-hour trading volume for LQTY/USD has decreased to $9.8 million, and the market capitalization is currently at $108 million.

Liquity price analysis 1-day chart: LQTY price falls to $1.17 as selling pressure builds

The one-day Liquity price analysis reveals that the market is currently in a negative trend with a decrease in coin value. At the beginning of the week, the price had a comeback, but now the downward trend is becoming more pronounced. The short-term trend line is currently once again declining. At the time of writing, the LQTY/USD exchange rate is down 5.99 percent, hovering at $1.17. Currently, the price is below its moving average.

The Relative Strength Index score for LQTY Chain is 33.37, which indicates that the market has remained oversold for a significant portion of the day and is incredibly low. The bulk of technical indicators point to a bearish trend. The last few days have had wide Bollinger Bands. At press time, the indicator’s lower line offers support at $1.1620, and its upper limit shows a level of resistance at $1.3806. The MACD line (blue) is below the signal line, indicating falling signals (red). Additionally, the price is trading below the histogram, indicating a strong negative trend.

LQTY/USD 4-hour price chart: Recent developments and further technical indications

On a 4-hour chart, Liquity price analysis confirms that its price is going down again after a brief escape. The bears are pulling down the price levels, and currently, they have reached the $1.17 level. Resistance for the LQTY/USD pair is seen at the $1.25 level. If the resistance level is breached, it could lead to a further increase in price. On the other hand, if the bulls fail to breach the resistance level, it could lead to a further decrease in price. 

The Moving Average Convergence Divergence (MACD) indicator is in the red zone, with the MACD line below the signal line. This confirms that the bears are in control of the market and are likely to maintain their momentum.On the technical front, the Relative Strength Index score is 36.31, which indicates that the selling pressure is on a high note. The bands of the Bollinger band indicator are seen to be diverging, revealing an increase in volatility. The upper band is at $20.88, while the lower band is at $10.33.

Liquity price analysis

Overall, the Liquity analysis is contributing to the selling pressure as a result of the ongoing drop of the coin. The price decreased to $1.23 from the previous day as the bears were still in control of the market today. If the $1.16 support level holds firmly, the bearish pressure might increase and drive prices much lower. However, buyers might seek a higher price entry point if the resistance level of $1.25 is surpassed in the following weeks.

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.