This trade could play out in 2 ways:
- I am expecting LSK to begin an up move. Before this it's highly likely that price action will retest the horizontal at $25.
-Price successfully breaks down in one down impulse, tests the horizontal at $21, and bounces to the upside target at $29. This is our preferred scenario as price has less work to do to hit the upside target if it bounces at the earliest opportunity.
Bare in mind if this does happen it is extremely likely that price will once again be going back into higher levels, and would show a significant change of investors sentiment in Cryptocurrency as a whole, and prices returning to their higher levels would be likely.
A relaunch of the LSK crypto is supposed to happen on Feb. 20. On that day, the company plans to unveil a completely updated and improved Lisk platform with a new brand identity and website. The inclusion of the coin to BitFlyer exchange which is one of the largest markets will definitely help increase the value of the coin in 2018. It currently stands at number 13 in terms of market cap.
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