My $LSK Target Is Still $1... And I'm Not Changing It 🔥
Guys, LSK reached almost $2 and then dropped hard. Meow and some of my friends managed to catch the LSK move around 3 times, but my last LSK configuration didn't work properly.
Yes, my previous plan was spot, and from my recommended price LSK dropped a lot.
So can LSK drop more or finally pump?
First of all, my $1 target is unchanged.
I checked the data again.
Derivatives are still weak: OI is around $40.9M, L/S around 1.11, funding around +0.005%, while top traders are still heavily long. Futures CVD is around -10.2M, spot CVD around -5.4M, and orderbook delta is positive but not strong enough to confirm aggressive buying.
Liquidation liquidity is sitting around $0.292-$0.300 and $0.305-$0.323 above, while major downside liquidity is around $0.276-$0.269.
So yes guys, short-term data is weak. Another drop is possible. But at $0.28, I don't want to chase a short because we're already close to support.
And don't forget the events.
October 7-8 = TOKEN2049 Singapore, while October 31 = Lisk Chain shutdown. Lisk has already burned 100M LSK, reducing supply from 400M to 300M.
The October 31 transition is a bearish risk, but bearish event doesn't mean LSK must collapse today. Sometimes tokens pump before an event and sell the news.
For a quick trade, I'd rather short a rejection around $0.296-$0.323.
But my plan is a slightly longer spot move:
Current Entry: $0.280-$0.286
Recommended Entry: $0.276-$0.280
Deep Entry: $0.268-$0.273
TP1: $0.380
TP2: $0.560
TP3: $0.780+
SL: $0.255
Confirmation: 1H reclaim of $0.287-$0.291, improving spot CVD/flow, buyers absorbing sells and OI rebuilding with price.
I'm using a tighter SL here, but I'd suggest a wider SL based on your risk because LSK can move fast. If you can't afford that loss, go smaller with spot and add only after confirmation and strength.
If $0.268 breaks hard and cannot reclaim, I cancel the long idea.
✅ My take: weak short-term, but shorting $0.28 doesn't give me the RR I want. My $1 target is still unchanged. $龙虾 $XRP
Guys, LSK reached almost $2 and then dropped hard. Meow and some of my friends managed to catch the LSK move around 3 times, but my last LSK configuration didn't work properly.
Yes, my previous plan was spot, and from my recommended price LSK dropped a lot.
So can LSK drop more or finally pump?
First of all, my $1 target is unchanged.
I checked the data again.
Derivatives are still weak: OI is around $40.9M, L/S around 1.11, funding around +0.005%, while top traders are still heavily long. Futures CVD is around -10.2M, spot CVD around -5.4M, and orderbook delta is positive but not strong enough to confirm aggressive buying.
Liquidation liquidity is sitting around $0.292-$0.300 and $0.305-$0.323 above, while major downside liquidity is around $0.276-$0.269.
So yes guys, short-term data is weak. Another drop is possible. But at $0.28, I don't want to chase a short because we're already close to support.
And don't forget the events.
October 7-8 = TOKEN2049 Singapore, while October 31 = Lisk Chain shutdown. Lisk has already burned 100M LSK, reducing supply from 400M to 300M.
The October 31 transition is a bearish risk, but bearish event doesn't mean LSK must collapse today. Sometimes tokens pump before an event and sell the news.
For a quick trade, I'd rather short a rejection around $0.296-$0.323.
But my plan is a slightly longer spot move:
Current Entry: $0.280-$0.286
Recommended Entry: $0.276-$0.280
Deep Entry: $0.268-$0.273
TP1: $0.380
TP2: $0.560
TP3: $0.780+
SL: $0.255
Confirmation: 1H reclaim of $0.287-$0.291, improving spot CVD/flow, buyers absorbing sells and OI rebuilding with price.
I'm using a tighter SL here, but I'd suggest a wider SL based on your risk because LSK can move fast. If you can't afford that loss, go smaller with spot and add only after confirmation and strength.
If $0.268 breaks hard and cannot reclaim, I cancel the long idea.
✅ My take: weak short-term, but shorting $0.28 doesn't give me the RR I want. My $1 target is still unchanged. $龙虾 $XRP
