Lisk is a platform for creating decentralized applications, Lisk aims to be user-friendly and is geared towards mass adoption. Lisk launched its own digital token (LSK) in May, 2016 to help raise funds to finance the project. This is a highly speculative cryptocurrency and still very risky but lots of analysts agree that Lisk is currently at a point where it has the potential to make very big gains. When we look at the 1-year chart we can see that Lisk is moving in “downtrend”. As long as Lisk is below $10 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $2.5 and $3 – If the Lisk jumps above $5 that would be a “BUY” signal and the open way to $6. If the Lisk jumps above $10 that could be a strong signal of the trend reversal and the open way to $15. On the other side, if the LSK falls below $2.5 that will be a strong signal “SELL” signal and the next target could be around $2.
Advice: This is a highly speculative cryptocurrency and still very risky but LSK has a very good risk/reward ratio in the market right now which means you stand to gain a lot more for taking a comparatively smaller risk. Yes, it is true that the price could fall even more but the current price of LSK stands around $2.7 and this is very close to strong support which stands at $2.5. As for the technical picture, LSK remains in bearish phase but if the price advances above $5, short-term traders can enter the position with the stop loss at $4.40 and take profit at $6 or even $6.5. On the other side, if the Lisk falls below $2.5 that will be a strong signal “SELL” signal and the next target could be around $2.
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