LSKUSDT.1DAs I analyze the LSK/USDT daily chart, the price is currently trading at 1.090, showing a gradual recovery after a prolonged consolidation period. The chart displays a breakout from a range-bound structure, signaling growing bullish momentum. Key levels are highlighted to better understand the price dynamics.
The immediate resistance is at R1 (1.189), which aligns with the upper boundary of the previous consolidation range. If LSK successfully breaks above this level, the next significant resistance lies at R2 (1.573). A breakout beyond R2 could confirm a stronger bullish trend, potentially leading to a broader rally.
On the downside, the immediate support is at S1 (0.647), which has acted as a strong base during previous price corrections. A breakdown below this level could signal bearish pressure, with further downside potential.
The MACD (12, 26) indicator currently shows bullish momentum, with the MACD line above the signal line and positive histogram bars. This suggests that buyers remain in control. Meanwhile, the RSI (14) is at 65.02, nearing overbought territory. While this confirms the strength of the recent rally, it also signals caution, as a short-term correction or consolidation may be on the horizon.
If LSK can sustain its momentum and break through R1, the price is likely to target R2 as the next significant level. Conversely, failure to hold above R1 could result in a pullback toward the S1 support zone, offering potential accumulation opportunities for long-term bullish setups.
In conclusion, my outlook for LSK/USDT is cautiously optimistic. The key focus remains on whether the price can sustain above R1 and target R2. I will monitor the RSI and price action closely for signs of a breakout or potential retracement, ensuring an adaptable approach based on market conditions.
