Lisk Price Prediction 2021 – Will LSK Hit $11.5 Soon?

Lisk Price Prediction 2021 - Will LSK Hit $11.5 Soon?
  • Bullish LSK price prediction ranges from $2.90 to $11.3.
  • LSK price might also reach $11.5 soon.
  • LSK bearish market price prediction for 2021 is $1.77.

In Lisk (LSK) price prediction 2021, we use statistics, price patterns, ADX, and much other information about LSK to analyze the future movement of the cryptocurrency. 

Lisk is an open source blockchain platform based on Lisk Tokens (LSK) that enables developers to write decentralized applications (dApps) using the JavaScript programming language. Lisk allows developers to create applications on sidechains connected to the Lisk network, as well as their custom tokens. It is a modular cryptocurrency because the coin contains “modules” as the basis for its design and construction.

According to CoinGecko, Lisk (LSK) price is trading at $2.08 with a 24-hour trading volume of $20,606,251, at the time of writing. However, LSK has decreased by 12.2% in the last 24 hours.

Moreover, LSK has a circulating supply of 144,531,863 LSK. Currently, LSK trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, Upbit, and HitBTC.

Lisk (LSK) Price Prediction 2021

Lisk (LSK) holds the 130th position on CoinGecko right now. LSK price prediction 2021 explained below with a daily time frame.

LSK/USDT Price Chart Daily Time Frame (Source: TradingView)

A falling wedge is a bullish pattern that starts at a high and contracts as the price falls. However, this price movement formed a downward cone. When the highs and lows of a trend converge. This shows that due to the huge volume of trade during this time, the price of LSK will continue to rise and in the near future it will surpass its all-time high price ever.

In the daily time frame chart, it is possible for the LSK to reach $11.50 if the bull trend continues. Or else, if the price of the LSK breaks the resistance level of $7.45, it will fall to the next support level at $1.77. So, the trend of the LSK is based on the breakout.

Lisk (LSK) Support and Resistance Level

The below chart shows the support and resistance level of LSK.

LSK/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frames, it is clear the following are the resistance and support levels of LSK.

  • Resistance Level 1 – $2.90
  • Resistance Level 2 – $4.70
  • Resistance Level 3 – $7.45
  • Resistance Level 4 – $11.50
  • Support Level 1 – $1.77
  • Support Level 2 – $1

The charts show that LSK has performed a bullish trend over the past month. If this trend continues, LSK might run along with the bulls overtaking its resistance level at $11.50.

Conversely, if the investors turn against the crypto, the price of LSK might plummet to almost $1, a bearish signal.

Lisk (LSK) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of LSK. ADX helps traders to  determine the strength of a trend, not its actual direction. It can be used to determine if the market is changing or if a new trend is starting. However, it is related to the Directional Movement Index.

Moreover, the oscillators range from 0 to 100. In addition, a high value represents a strong trend, while a low value indicates a weak trend. It is often used in combination with direction indicators. 

LSK/USDT ADX(Source: TradingView)

The above chart shows the ADX of LSK stays above the range of 6.4, so it indicates a sideways trend.

Conclusion

LSK is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term LSK price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $34.92 this year. However, this will only happen if LSK breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the LSK ecosystem, it could experience a great future ahead in 2021. It may reach $7.45 soon and it might even reach high heights, however reaching $11.5, if investors have planned that LSK is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.