Lisk (LSK) price movement indicates sluggish movement

Lisk started the year with a high escalation in the price. By February 2020, the coin reached to the quarterly highest price level. Then, the currency fell under the market pressure and returned to $1.22. After this decline, the LSK price has locked around the same level since then.

Recently, the currency reflected a sudden decline, which later recovered. The market is anticipated to improve shortly. We are speculating that the escalation would be spotted in Lisk too.  

Lisk Price Analysis

LSK price has been stagnant all around the week. The currency was trading at $1.286 on July 22, and it continued to trade laterally until yesterday. On July 27, the currency faced a sudden drop to $1.19. However, Lisk managed to trade upwards and marked a decent recovery. At the press time, the currency was trading around $1.2188 with a lack of support from daily moving averages.

The MA20 & MA50 are at $1.234 and $1.229 respectively. The averages are reflecting bullish crossover; however, there is a slight pressure on the current price. The mixed indication points towards the sluggish movement in the coin. Looking at the MACD, the signal line has overlapped the MACD line forming a bearish crossover. As per the current price trend, LSK token might test the immediate resistance at $1.27 soon.