The Liquity price analysis shows a bullish momentum building in the price after a strong recovery from the bears. The price of LQTY has increased from $1.61 to a high of $1.69, making a surge of 4.59 percent in the past 24 hours. The previous day the price of Liquity had dropped to a low of $1.61 and below, but the bullish momentum has been strong enough to bring it back up.
The increased trading activity and market capitalization have also contributed to the growth of LQTY, with a total daily trading volume of $19 million. This is probably due to investors seeing potential in this project and increasing their positions as the price progresses. Additionally, the trading volume for LQTY is up by 32.60% in the past 24 hours.
Liquity price analysis daily chart: LQTY surges after the bears halted their downward dive
The daily chart for Liquity price analysis shows that the bulls were able to take control of the market after a period of sustained bearishness. The LQTY/USD has been trading in a range-bound of between 1.61 and $1.71 since the previous day indicating that the bulls have successfully taken on the bears. Either of the levels could now serve as support or resistance, depending on what direction the price action takes.
The price is currently trading at the upper end of this range, which could be an indication that further upside potential exists for LQTY. The Relative Strength Index (RSI) has also surged to 35, indicating increasing buying pressure from investors. The MACD (Moving Average Convergence Divergence) is forming a positive crossover with the signal line and the histogram is losing the negative intensity indicating that buyers hold sway in the market. The moving average indicator is also forming a bullish crossover, indicating that the trend could remain positive in the near future.
Liquity price analysis: Recent developments and further technical indications
The 4-hour Liquity price analysis shows that the price has been rising from the very start of today’s session. The price has broken the $1.61 support level and is now trading near the next significant resistance at $1.73. A break of this level could see further upside potential for LQTY with an increase to $2 or above possible in the near future.
The 4-hour RSI is currently at 46, indicating that the bulls still have some energy left. The MACD is also in a positive state, with the signal line pointing to increasing buying pressure from investors. The histograms are widening and the moving average indicator is forming a positive crossover, indicating that this trend could remain in force for some time. The moving average indicator is present at $1.67, with both 50-day and 200-day MA lines forming a bullish crossover.
Liquity price analysis conclusion
In conclusion, Liquity price analysis has seen a strong recovery from its bears over the past day. Both charts indicate that the bulls are firmly in control with further upside potential for LQTY. The bullish momentum is set to remain in the near future due to increased trading activity, market capitalization, and technical indicators. However, if selling pressure increases, the price could drop to $1.61 or below which could halt the current bullish trend.
