{"id":173852,"date":"2023-10-14T01:03:23","date_gmt":"2023-10-13T19:33:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=173852"},"modified":"2023-10-14T01:03:23","modified_gmt":"2023-10-13T19:33:23","slug":"liquity-price-tanks-10-after-rejection-from-range-highs-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/liquity-price-tanks-10-after-rejection-from-range-highs-crypto-news\/","title":{"rendered":"Liquity Price Tanks 10% After Rejection From Range Highs – Crypto News"},"content":{"rendered":"

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Liquity price isn\u2019t having a great day as the native asset of the Liquity protocol slid 14% on Friday. This move comes after the coin attempted to break above its range high of $1.48. Currently, LQTY crypto is changing hands at $1.267, as it trades 14% below the range high, which we\u2019ll discuss later.<\/p>\n

Liquity\u2019s failure to break above its trading range can be attributed to Bitcoin\u2019s recent price action. This week, Bitcoin<\/a> slid 4% after facing rejection from the 200 MA on its daily chart. This move translated into a sell-off in the altcoins, as most plummeted to their fresh October lows.<\/p>\n

Earlier in October, the developers of the Liquity Protocol announced the unlocking of 657,350 Liquity tokens, which represent 0.7% of the current circulating supply. This can put downward pressure on the Liquity price as more LQTY coins flood into the market.<\/p>\n

The data from DefiLlama shows the total locked value(TVL) on the Liquity dapp has been in a downtrend since April 2023. During this time, the TVL has dropped from $833 million to $533 million. This suggests that the number of users on the decentralized protocol is reducing.<\/p>\n

For the past few days, altcoins have been bleeding as the investors fear of a deeper correction in Bitcoin.<\/p>\n

Liquity Coin Price Analysis<\/h2>\n

LQTY price has soared 108% from its September lows. Earlier this week, the price broke above its range high of $1.47. However, this effort was undone by the negative BTC price action as the largest cryptocurrency fell below $27,000.<\/p>\n

The Liquity coin price prediction has flipped bearish after a rejection from the range high. Bears are now gaining momentum toward the downside. In the near term, I expect the bears to target the middle of the trading range, which lies at $1.10. However, a breakout from 1.47 will be an invalidation of this bearish outlook.<\/p>\n

LQTY Daily Chart<\/h2>\n
\"Technical
LQTY Coin Analysis<\/figcaption><\/figure>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Liquity price isn\u2019t having a great day as the native asset of the Liquity protocol slid 14% on Friday. This move comes after the coin attempted to break above its range high of $1.48. Currently, LQTY crypto is changing hands at $1.267, as it trades 14% below the range high, which we\u2019ll discuss later. Liquity\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":156833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-173852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=173852"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173852\/revisions"}],"predecessor-version":[{"id":173854,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173852\/revisions\/173854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/156833"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=173852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=173852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=173852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}