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Liquity price analysis: LQTY fails to break above $1.50 following a bearish divergence

TL;DR

  • Liquity price analysis is bearish for today
  • LQYT’s price has sought support near $1.25
  • Bearish divergence was seen on the hourly chart

Liquity price analysis for today shows (LQTY) failed to break above the $1.50 resistance level following a bearish divergence in its price over the weekly candle close. The cryptocurrency asset opened at $1.45 and saw its price decline to the support level near $1.25 throughout today’s trading session, as a bearish divergence was seen on the hourly chart.

The liquity token price is currently $1.47, down by 3 percent in the last 24 hours. Looking ahead, Liquity price trend shows the altcoin has been following a descending trendline since mid-April. LQTY is trading below the 12-day EMA and the 50-day SMA, indicating it is bearish.

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Cryptocurrencies price heatmap: Coin360

LQTY/USD analysis on a daily chart: Bears continue to dominate the market

The daily chart for Liquity shows that bears have maintained control over the market, with no signs of a reversal in sight. The MACD is in bearish territory, and the RSI indicator is below 3, suggesting the bears are in control. Furthermore, the Parabolic SAR has recently flipped from green to red, indicating that sellers dominate the market.

image 288
LQTY/USD 1-day price chart, Source: TradingView

The next key level to watch for LQTY is the support at $1.25, which is likely to act as a strong floor around that price. If this area allows, we could see further downside in Liquity’s price action in the coming days.

The Fibonacci Retracement tool shows that the LQTY token will have to break above the 23.6% level at $1.50 to turn bullish and move higher. The current sentiment seems to be a consolidation pattern as the market awaits the next significant move.

Liquity price analysis on a 4-hour chart: LQTY forms a bearish flag

The Liquity price analysis on the 4-hour chart shows the asset forming a bearish flag pattern, indicating that further downside could be on its way. The price of Liquity has been trading in a range-bound fashion between the $1.30 to $1.50 level and is likely to continue this way until a breakout in either direction occurs.

image 287
LQTY/USD 4-hour price chart, Source: TradingView

The Stochastic RSI has dropped below 50, suggesting that the bearish momentum could increase in the coming sessions. The MACD indicator also shows signs of bearishness as it has recently crossed into the bearish territory.

The Simple Moving Average (SMA) shows that the price has been trading well above the 100 SMA for most of today, with some retracements. The 200 SMA could be a strong support in case LQTY’s price drops further down.

Liquity price analysis conclusion

Overall, Liquity price analysis shows that the altcoin is bearish and could be headed lower if the critical support near $1.25 fails to hold. Bulls must gain momentum and push the price above $1.50 for a bullish reversal. If this does not happen, we could see further losses in Liquity’s price in the coming 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.

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John Palmer

John Palmer is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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