Lisk tumbles on breach of strong support, on verge of 2w lows

As you could see, LSKBTC at Binance has tumbled with a steep price slump after breaching below strong support at 0.0013100 levels.

Several times in the recent history has shown the strong demand zone at this juncture. Bears have managed to breach decisively below this level, this is backed by intensified selling momentum signaled by both leading oscillators (RSI and stochastic curves).

More slumps below EMAs are expected with most likely EMA and MACD crossovers. 7EMA crosses below 21EMA, while MACD also shows bearish crossover that signal bearish trend to prolong further (refer daily plotting).

However, on the flip side, LSK is one of the currencies to show the rapid spike in its trading volume that in turn has grabbed the attention of the prospective investors. Thus, a huge set of folks from investing class in LSK is observed for quite some time now, we are interested in analyzing all the driving factors for having Lisk as a lucrative avenue of investment. Most evidently, Lisk has teamed up with Abra, Microsoft etc for developmental objectives of its own Blockchain and secured trading platform.

The prime driving factor to own Lisk in a long term is that this cryptocurrency has shown some great stability on the contrary to the recent market trends, even during the severe market crash. Lisk has kept its cool not losing much in response to the majority of tumbling crypto-currencies.

Well, contemplating above technical rationale, as the pair is on the verge of hitting 2-weeks lows, we could foresee short-term selling opportunities, while accumulate longs on dips would be the strategy for long-term.