The Liquity price analysis shows that the altcoin opened the daily charts on a slightly bullish note as buyers pushed the LQTY/USD pair to a high of $1.6957 in early trading hours. The price then remained in an uptrend before dropping slightly to its key support level of $1.63, where it began an upward movement again to reach today’s current price of $1.6957.
The Liquity token price is up by 1.26 percent, following sideways movement during the previous 4 hours. A minor pullback below the $1.63 level may cause the LQTY/USD pair to resume its downtrend and test the next support level of $1.52. On the other hand, if buyers manage to keep prices above the $1.63 price level, then a rebound toward the aforementioned resistance at $1.77 will likely be seen in the near term.
Liquity price analysis on a daily chart: LQTY price falls below SMA200
Liquity price analysis on a daily chart indicates that the LQTY/USD pair fell sharply from a high of $1.71, experiencing a large drop below the 200 Simple Moving Average (SMA200). This was followed by a brief pullback to just above the $1.63 support level, where sellers stepped in and pushed prices back down again. The RSI (Relative Strength Index) indicator dropped below 50 levels, indicating more selling pressure in the market. A break above the SMA200 may provide a new buying opportunity for traders and push prices higher in the coming days.
LQTY/USD 1-day price chart, Source: TradingView
The Awesome Oscillator is displaying a bearish picture as the histogram turns red. This suggests that the momentum of the cryptocurrency is weakening and it may remain bearish in the near future. A lower low formed near the $1.63 support level could be a sign of more downside pressure in the near future.
Liquity price analysis on a 4-hour chart: Bulls stage a comeback
Liquity price analysis on a 4-hour chart shows that the bears may have temporarily lost control, with buyers pushing the LQTY/USD pair above its key support level of $1.63. The RSI indicator is currently trading around 50 levels, suggesting indecision in the market. A move below this level could indicate a bearish trend in the coming hours.
LQTY/USD 1-hour price chart, Source: TradingView
The Awesome Oscillator, however, displays a bullish picture as the histogram turns green. This suggests that bulls may be slowly taking control of the market and pushing prices higher in the coming sessions. A break above $1.77 could lead to further upside momentum for LQTY/USD pair.
Liquity price analysis conclusion
Liquity price analysis shows that the cryptocurrency is trading in a bullish zone despite bearish signals on the daily chart. A break above the $1.77 resistance could lead to an extended rally while failure to do so may push prices lower and test the next support level of $1.52.
