The post LCX crypto jumps 90% in 7 days with volume up 120%: Next stop? appeared on BitcoinEthereumNews.com.

LCX breaks a descending channel, targeting $0.31732 with bullish momentum building rapidly. On-chain signals and rising activity support the rally, but overbought RSI demands caution. LCX crypto [LCX] has taken the crypto market by storm with a staggering 90% rally in just seven days, capturing the attention of traders worldwide. At press time, LCX trades at $0.20528, boasting a trading volume surge of 120% in the past 24 hours. But what’s fueling this remarkable performance, and can the momentum continue? Breaking the descending channel with key resistance in sight LCX recently broke free from a prolonged descending channel that had capped its price since early 2024. This breakout marks a clear shift in momentum, as bulls pushed the price up by 19.54% intraday. Consequently, the focus now shifts to the critical resistance level at $0.31732, representing a potential 53% upside. If LCX can sustain this upward trajectory, it could signal an extended bullish rally. However, failure to hold above the previous support-turned-resistance at $0.173 might invite bearish pressure. Source: TradingView MACD and RSI paint a bullish yet cautious picture The MACD indicator shows strong upward momentum. The MACD line has crossed into bullish territory above zero, and the widening gap between the MACD and signal lines confirms buyer dominance. Additionally, the RSI has spiked to 80.96, indicating overbought conditions. While this reflects intense buying activity, it also warns of a potential short-term pullback if traders begin taking profits. Therefore, while momentum remains on the side of the bulls, caution is warranted. Source: TradingView On-chain signals show mixed metrics On-chain data provides a nuanced picture. While 11.15% of holders are “in the money,” signaling profitability, other metrics suggest caution. Net network growth, for example, is up only 0.58%, while large transactions have decreased by 2.74%, pointing to waning interest among larger investors.…

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Filed under: News - @ November 26, 2024 2:15 am