Journalist
Posted: November 28, 2024
- LCX flipped its daily market structure bullishly, gaining by 43% in a day
- High trading volume and rising capital inflows meant more gains were possible
LCX [LCX] regained a bullish market structure on the 1-day timeframe for the first time in nearly two months. In fact, the exchange token of the LCX cryptocurrency exchange has been on a persistent downtrend since June.
From 5 June to 31 October, the token shed 70% of its value. It took a couple of weeks to form a range around the $0.1-mark and consolidate. However, over the past week, it has gained by 163%.
At press time, it was up by 43% in the last 24 hours, having climbed past the $0.24-level which was expected to serve as resistance. How much higher can LCX go?
The importance of $0.2-$0.25 for LCX
