LINA Price Prediction: LINA Enlisted a Breakdown, What Next?

By Thecoinrepublic.com
5 months ago
RES LINA DAILY

Linear Finance (LINA) is the first cross-chain compatible, decentralized delta-one asset protocol to quickly and cost-effectively create, trade, and manage liquid assets (Liquids) and creative thematical Digital Traded Funds. Recently, LINA crypto registered a range breakdown and slipped toward the demand zone of $0.008000. Amidst the positive market sentiment, LINA crypto did not participate in the rally and hovered in a narrow range, which showcased the dull moves. 

LINA price has slipped toward the bearish trajectory and is trading below the significant moving averages, delivering bears’ dominance on the charts. A pullback was noted in the recent sessions and the LINA crypto retested the round mark of $0.009000, which must be sustained for a smooth recovery. However, the price action signifies the short buildup, and buyers cannot handle the gains, which ideally signals a down move.

At press time, Linear Finance (LINA) trades at $0.009016 with an intraday gain of 0.19%, showing a breakdown on the charts. Moreover, the trading volume increased by 22.45% to $13.57 Million, highlighting sellers’ interest. The pair of LINA/BTC was noted at 0.000000196 BTC, while the market cap is $90.30 Million. Analysts are bearish and suggest that the Linear Finance (LINA) crypto price will continue to spoil the gains and breach $0.008000 soon.

LINA On Daily Charts Shows Distribution

LINA Price Prediction: LINA Enlisted a Breakdown, What Next?
Source: LINA Price Chart By TradingView

On the daily charts, LINA price showcased a range breakdown, and distribution was witnessed in the recent sessions. The LINA price was stuck in a range for a long time and tightly held the 20-day EMA, but sellers continued to attempt and finally succeeded in their mission. Additionally, a bearish crossover was spotted, which led to buyers being trapped.

The relative strength index (RSI) curve stayed in the oversold region, showing a negative crossover, implying selling pressure on the charts. Moreover, the MACD indicator showed a bearish crossover and formed red bars displaying the breakdown.

LINA On Weekly Charts Exhibits Sharp Rejection from the 50-Day EMA

LINA Price Prediction: LINA Enlisted a Breakdown, What Next?
Source: LINA Price Chart By TradingView

On the weekly charts, the LINA price faced a sharp throwback from the upper neckline of the neckline and switched below the round mark of $0.009000. Moreover, the trend is bearish, and the price may continue to retest further lows of $0.007800 in the following sessions.

Summary

Linear Finance (LINA) enlisted a breakdown and has slipped below the key moving averages, directing selling pressure on the charts. Moreover, the trend finally took a direction after a consolidation and sellers took charge in spoiling the investors’ profit.

Technical Levels

Support Levels:  $0.008900 and $0.007700

Resistance Levels:  $0.009100 and $0.009300

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

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