A flurry of events happened yesterday: HUOBI:BTCCNY touched a high of ¥3944.3 and is continuing to rise. The Dao released KRAKEN:DAOXBT , bringing plenty of interest into the Crypto 2.0. space, as well as competition: $129M market cap and $3M+ in trading volume.
Lisk has held its own. Currently POLONIEX:LSKBTC is #4 in trading volume at $5.4M , ahead of...
Scouting for an entry zone. Overall market volume of The Dao KRAKEN:DAOXBT has now surpassed LSK POLONIEX:LSKBTC . Further weakness in price and volume can be expected until #BTC market cools off. Until #Kraken release #LSK trading, expect #Poloniex to control price direction for the time being. Waiting for entry in the 50K zone to catch a dip.
Looks like we hit a good bottom @ 55K LSK this morning. 60K was a great buy area imo. I believe LSK can overcome overhead resistance today and try for a breakout by the end of the weekend. Watch for volume dropping from Bitcoin (currently 275k BTC) and increasing LSK buy pressure at Poloniex to confirm breakout strategy. Current LSK trading volume on Coinmarketcap...
