Lisk ($LSK ) Market Update: Chain Shutdown Sparks Extreme Squeeze, Sharp Reversal Underway
$LSK is trading near $0.88** after a violent round trip. The token exploded from **~$0.20 to a peak of $2.35, a gain exceeding 900%, before surrendering most of that move.
What Drove It: Lisk announced its mainnet shutdown on Oct. 31, triggering a 100 million LSK burn that will cut total supply from 400M to 300M. The supply shock ignited a massive short squeeze—roughly $33–36 million in short liquidations forced buying, pushing prices vertically.
Key Risk: Spot demand never matched the futures frenzy. A wallet allegedly tied to CEO Max Kordek moved 3.3 million LSK (~$3.79M) to Binance after the spike. Holders on the old chain must bridge before Oct. 31, adding migration-related sell pressure.
Technical Levels: Support sits at $0.80–$0.85, with deeper zones at $0.70** and **$0.60. Resistance is $1.00**—a reclaim could reopen **$1.20–$1.50. RSI is cooling from extremely overbought territory.
Binance Trade Setup: Avoid chasing. A cautious long only if $LSK holds $0.85** and reclaims **$1.00 with volume. Tight stops below $0.75. DYOR — this is a leverage-driven event, not value.
#LSK #BINANCE #analises
$LSK is trading near $0.88** after a violent round trip. The token exploded from **~$0.20 to a peak of $2.35, a gain exceeding 900%, before surrendering most of that move.
What Drove It: Lisk announced its mainnet shutdown on Oct. 31, triggering a 100 million LSK burn that will cut total supply from 400M to 300M. The supply shock ignited a massive short squeeze—roughly $33–36 million in short liquidations forced buying, pushing prices vertically.
Key Risk: Spot demand never matched the futures frenzy. A wallet allegedly tied to CEO Max Kordek moved 3.3 million LSK (~$3.79M) to Binance after the spike. Holders on the old chain must bridge before Oct. 31, adding migration-related sell pressure.
Technical Levels: Support sits at $0.80–$0.85, with deeper zones at $0.70** and **$0.60. Resistance is $1.00**—a reclaim could reopen **$1.20–$1.50. RSI is cooling from extremely overbought territory.
Binance Trade Setup: Avoid chasing. A cautious long only if $LSK holds $0.85** and reclaims **$1.00 with volume. Tight stops below $0.75. DYOR — this is a leverage-driven event, not value.
#LSK #BINANCE #analises