The Liquity price analysis is positive right now. Since it is currently trading at $1.80, the token price has significantly recovered, but how long the recovery will last will depend on the hours to come. The support present at $1.36 is pretty strong, On the other hand, the resistance present at $1.91 is also critical. However, the recent acceleration of bullish momentum is a very encouraging development.
The Liquity protocol, a decentralized platform for zero percent interest loans using ETH as collateral, is powered by the Ethereum token LQTY. LQTY holders can stake their token to earn a share of the fees collected by opening and closing loan transactions.
LQTY/USD 1-day price chart: Bullish momentum accelerates along with the trading volume
The token is making a comeback today after a two-day fall, according to the 1-day price chart for Liquity price analysis, and is currently trading at $1.80 as of this writing. Due to the token’s slightly upward trend line from the previous week, its price has increased by more than 3.17 percent over the past 24 hours and by 1.22 percent over the past seven days. The trading volume for the last 24 hours is 19.425M, showing an increase of eight percent, which provides market dominance by 0.01 percent with a market capitalization of 167.425M.
The volatility is increasing, and now the upper Bollinger band is present at $2.49, and the lower band is present at the $1.54 mark, acting as support for the token price function. The lower band shows more divergence, while the upper band is almost maintaining its position. The relative strength index (RSI) is still trading on the lower side in a neutral range at index 39 but on an upward slope, showing more buying in the market.
Liquity price analysis: Recent developments and further technical indications
The 4-hour price chart for Liquity price analysis shows that the token price is going up at a steady fast rate as the bullish trend accelerated during the last four hours after remaining sluggish at the start of the trading session. The price has increased tremendously and has reached $1.80 in a swift move.
The price is moving towards the mean average of the volatility indicator on the 4-hour chart, the upper band is present at $1.87 and the lower band is present at $1.75. However, the MA is trading below the mean average of the Bollinger bands, which is a bearish indicator. The RSI has reached index 49 on a steep upward curve, showing strong bullish behavior.
Liquity price analysis: Conclusion
The Liquity price analysis suggests the price may go further up towards retesting the local resistance of $1.83. A break above is also possible if the bulls maintain their momentum. Traders can expect the token to continue its upward movement for the next 24 hours.
