There may be a temporary reprieve on the horizon for all cryptocurrency markets. It has become evident the current overall sentiment is anything but positive, but things have to change around at some point. As of right now, the Lisk price is making some major gains, albeit it remains to be seen how long this momentum can remain in place.
Lisk Price Surges Ahead
Every time a currency tries to buck the negative trend in the market, it is a matter of time until things take a turn for the worse. Right now, the Lisk price is noting some big gains over the past 24 hours, despite the overall cryptocurrency market sentiment still being incredibly bearish. Even so, the Lisk price has successfully retaken the $12.5 range, albeit it may not be able to hold on to this level for much longer.
More specifically, the Lisk price has increased by 15.64% in the past 24 hours, which is rather impressive. Considering how most currencies lost a similar percentage yesterday, this trend is all the more impressive right now. With this gain, the Lisk price has risen from $10.7 to $12.79 in just a few hours. While a $2 gain per coin is next to nothing, it does mean a big deal to LSK holders as of right now.
Whether or not Lisk will be able to retain this price point for much longer, is a different matter altogether. As of right now, Lisk is gaining on Bitcoin thanks to a 12.08% gains in the LSK/BTC ratio. Once Bitcoin starts to recover – assuming it will do so anytime soon -this trend will undoubtedly start to reverse. For now, though, the Lisk price is well worth keeping an eye on, as it is a shining beacon of hope in this ongoing bearish market.
With $34.6m in 24-hour trading volume, it’s virtually impossible to call Lisk a liquid altcoin market. At the same time, this lower trading volume appears sufficient to elevate the LSK price to $12.79 again, thus it will be rather interesting to see how things play out in this regard.If the trading volume picked up just a tiny bit, we may very well see legitimate fireworks in the Lisk price department.
The way things look right now, Binance is the go-to place for LSK trading. Their lead over bit-Z is pretty small, though, and CoinEgg is not too far behind. YoBit and Bittrex are also in the top five, which is pretty interesting to keep an eye on. With five different exchanges in the top five, things will get pretty interesting. However, there are no fiat currency pairs in the top five, which means people are mainly moving funds from Bitcoin into altcoins to increase their overall BTC holdings.
For the time being, we will have to wait and see how things play out for the Lisk price. While the current momentum remains rather bullish, things tend to turn around pretty quickly in this particular industry. Anything is possible in the world of cryptocurrency these days, but no one should expect any miracles as far as LSK is concerned. For now, taking profits is a top priority for most speculators, and that trend will kick in sooner rather than later.