#LBRY accumulation phase before a new move.
Last monthly support level was around 900 satoshis. After it was lost #LBC has been trading pretty much in a downward direction and mostly not hitting a bottom.
There have been few weekly levels that have been formed and tested out as the moves tried to recover. Currently trading at 180 satoshis, it sits between 2 daily levels recently recorded at 170 satoshis and also at 241 satoshis.
I think that it just started accumulation phase to probably test the old monthly support level of 901 satoshis which if successfully tested will indicate a recovery. If the move fails to reach it it most likely hit the previous weekly level of 666 satoshis.
The likely weekly level to be tested sits around 300 satoshis and is a good target even for a short position.
There have been few weekly levels that have been formed and tested out as the moves tried to recover. Currently trading at 180 satoshis, it sits between 2 daily levels recently recorded at 170 satoshis and also at 241 satoshis.
I think that it just started accumulation phase to probably test the old monthly support level of 901 satoshis which if successfully tested will indicate a recovery. If the move fails to reach it it most likely hit the previous weekly level of 666 satoshis.
The likely weekly level to be tested sits around 300 satoshis and is a good target even for a short position.
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