Overall this is a very ugly chart, with recent price action being some of its ugliest so far.
At the current date of publishing, price finds itself again below the green descending trend-line. Price may stay between this line and the blue ascending trend-line for the next couple of weeks.
However, the Daily MACD has made a bullish cross, which indicates that the potential for a more immediate propulsion to the 0.0245-0.027 region exists.
The weekly MACD/RSI are just in neutral territory though with no clear bias for direction.
A sustained break over the green descending trend-line will lead to sideways action between the red descending trend-line and the blue ascending trend-line.
For a long-term bullish case, LBA only becomes interesting if it can clear the three hurdles of the green, red, and purple resistances.
For the short-term, it is still in an ok area for buying. Slightly below the blue ascending trend-line could be used as support for a stoploss.
However, with the bubble that is Defi, if that pops, this could pop along with it by association even if mycred.io continues to function fine.
At the current date of publishing, price finds itself again below the green descending trend-line. Price may stay between this line and the blue ascending trend-line for the next couple of weeks.
However, the Daily MACD has made a bullish cross, which indicates that the potential for a more immediate propulsion to the 0.0245-0.027 region exists.
The weekly MACD/RSI are just in neutral territory though with no clear bias for direction.
A sustained break over the green descending trend-line will lead to sideways action between the red descending trend-line and the blue ascending trend-line.
For a long-term bullish case, LBA only becomes interesting if it can clear the three hurdles of the green, red, and purple resistances.
For the short-term, it is still in an ok area for buying. Slightly below the blue ascending trend-line could be used as support for a stoploss.
However, with the bubble that is Defi, if that pops, this could pop along with it by association even if mycred.io continues to function fine.
The MACD remains somewhat bullish , but that is starting to curve back down. Again, price action over the next few days/hours will be key for this pair's longer-term trend.