Fri. Aug 19th, 2022

According to estimates, Lisk is one of the cryptocurrencies which you should definitely not ignore but in my opinion, this is still very risky cryptocurrency. The price of Lisk currently stands around $2.05 and at this value, the total market cap of Lisk is around $246 million. Lisk is a platform for creating decentralized applications, Lisk aims to be user-friendly and is geared towards mass adoption. This blockchain application platform offers an all-round solution for Node.js and JavaScript developers to deploy their own blockchain applications. To help raise funds to finance the project, Lisk launched its own digital token (LSK) in the 2016 year. As a crypto-currency, Lisk is very similar to all other cryptos because it provides a decentralized payment system and digital money network. Positive thing is that Lisk uses JavaScript as a programming language, which is popular among tech giants such as Microsoft and Google. The future of this cryptocurrency is connected with the success of the Lisk network and the adoption of its technology by programmers, developers, and start-ups. In the chart below (a period from January 2019), I have marked major resistance and support levels which can help us to understand where the price could move. The current resistance levels are $2.5 and $3, $2 and $1.5 represent the current support levels.

https://www.cryptocompare.com/coins/lsk/

Lisk has a short-term resistance area at $2.5 and it would take a break above this level to confirm a new leg higher towards the $3 level. If the price drops below $2 support that would be a “SELL” signal and the open way to $1.5. I would not invest in Lisk currently, maybe only as the short-term trader with “stop-loss” and “take profit” orders. In the chart below we can see how did the price of Lisk perform in the last 30 days. On this chart, I have marked a “trendline” and if the price drops below this trendline that will be a “SELL” signal.

https://www.tradingview.com/chart?symbol=BINANCE%3ALSKUSD

Recommendation: The cryptocurrency market is supported, all major cryptocurrencies are advancing this month and according to current market sentiment, this trend is still intact. LSK was one of the best performers in the cryptocurrency market in the last several weeks, the price of this cryptocurrency has advanced from $0.6 above $2.8 in less than 30 days. This is a highly speculative cryptocurrency and still very risky but lots of analysts agree that LSK has the potential to make very big gains in the upcoming years. Many currently used coins have limited support, outside of major crypto-exchanges and this is also the situation with Lisk. Because of that, I would recommend to everybody to be careful and to invest a small sum of money in this cryptocurrency. If the price jumps above $3 that could be a very good opportunity for the short term traders, short-term traders can put the stop-loss at $2.5 and take profit at $4 or above. If the price drops below $2 strong support that would be a strong “SELL” signal and the open way to $1.5.