【LSK 4H】The chain shuts down tomorrow, and shorts are still lining up to pay
The chain is shutting down, but the coin has gained over 20%. LSK was quoted at 0.2145 on Binance spot at 21:30, up 22.5% in 24 hours; perpetual futures funding rate: -0.81%, the lowest across all contracts.
Background: In September, Lisk announced that Lisk Chain would shut down on October 31. Users need to bridge their funds to Ethereum before then. There is also a proposal to burn 100 million LSK. So far, I haven’t found any new catalyst behind today’s move; it looks more like a battle over positioning ahead of the chain shutdown.
Three pieces of evidence:
① Structure: Both 4H highs and lows are moving higher.
② Volume and price: Trading volume over the past 10 4H candles is 8.2 times the previous average.
③ Confluence: The 0.15–0.194 support zone coincides with Fib 0.5, MA99, and the trendline.
My take: With funding this negative, short covering could trigger a sharp spike at any moment. But 0.2203–0.2269 is a 1H resistance zone, and there’s also a risk of “buy the rumor, sell the news” on the day the event takes effect. I’m not chasing here.
Plan 1 (primary): Place a small long order near 0.177 on a pullback; stop-loss at 0.1475, first target 0.2236, second target 0.2466.
Plan 2 (backup): If price breaks above 0.2269 on strong volume and holds on a retest, consider a small position; stop-loss at 0.2135, target 0.2466.
Invalidation: A 4H close below 0.1475 would mean the chain-shutdown speculation is over; I’ll admit I’m wrong and exit. This is a small-cap event-driven coin, so keep position size light.
After the chain shuts down, will LSK keep squeezing shorts or print a huge red candle?
Source: Bitget, ifeng.com
#Lisk #TechnicalAnalysis
📈 Top 3 contract gainers (21:30): $BLESS +42.48%｜$BEAMX +42.38%｜$PARTI +35.61%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, not investment advice. DYOR.
The chain is shutting down, but the coin has gained over 20%. LSK was quoted at 0.2145 on Binance spot at 21:30, up 22.5% in 24 hours; perpetual futures funding rate: -0.81%, the lowest across all contracts.
Background: In September, Lisk announced that Lisk Chain would shut down on October 31. Users need to bridge their funds to Ethereum before then. There is also a proposal to burn 100 million LSK. So far, I haven’t found any new catalyst behind today’s move; it looks more like a battle over positioning ahead of the chain shutdown.
Three pieces of evidence:
① Structure: Both 4H highs and lows are moving higher.
② Volume and price: Trading volume over the past 10 4H candles is 8.2 times the previous average.
③ Confluence: The 0.15–0.194 support zone coincides with Fib 0.5, MA99, and the trendline.
My take: With funding this negative, short covering could trigger a sharp spike at any moment. But 0.2203–0.2269 is a 1H resistance zone, and there’s also a risk of “buy the rumor, sell the news” on the day the event takes effect. I’m not chasing here.
Plan 1 (primary): Place a small long order near 0.177 on a pullback; stop-loss at 0.1475, first target 0.2236, second target 0.2466.
Plan 2 (backup): If price breaks above 0.2269 on strong volume and holds on a retest, consider a small position; stop-loss at 0.2135, target 0.2466.
Invalidation: A 4H close below 0.1475 would mean the chain-shutdown speculation is over; I’ll admit I’m wrong and exit. This is a small-cap event-driven coin, so keep position size light.
After the chain shuts down, will LSK keep squeezing shorts or print a huge red candle?
Source: Bitget, ifeng.com
#Lisk #TechnicalAnalysis
📈 Top 3 contract gainers (21:30): $BLESS +42.48%｜$BEAMX +42.38%｜$PARTI +35.61%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinions, not investment advice. DYOR.
