LINA Coin Price Prediction 2023

• The price is expected to increase after expecting a certain consolidation.
• Currently, the price is trading above its 50, 100, and 200 EMA levels (on a daily basis)
• Recently, the price has been in a slightly bullish trend increasing over 21% over 3 weeks

LINAUSDT: Likelihood of a Bullish Behavior

LINA is a governance token, which means that its owners can vote on crucial matters that have an impact on the protocol. In order to create Liquids, the token serves as the necessary basis collateral. Users are entitled to staking incentives and a portion of the Linear Exchange trading fees when they utilize LINA to generate USD.

Currently, the token is trading at 0.0146 USDT, down by 1.35% on an intraday trade basis. The total 24-hour trading volume is 625.36 million. As we can see in the above graph, there was very high trading activity in the months of May and June and it led to a huge increase in its price, following which it entered into the consolidation zone of 0.0146 USDT and $0.0132 USDT, as the volumes declined. As per the present situation, the price is increasing till further levels, but there is also a possibility of a certain consolidation as still there is a low trading activity. 

Exponential Moving Average (EMA) and Moving Average Convergence and Divergence (MACD)

By looking at the EMA levels in the chart above, the token is currently trading above its all EMA levels, indicating a buy signal. Recently, it took a break-out at the 200 EMA level and is showing strong bullish behavior. For the near future, the outlook of the price is positive as its EEMA levels have been consistent.

By looking at the MACD(12 and 26) graph, we can see that for some time, there was no such convergence as the price was consolidating. But recently, there has been a slight convergence in the levels as the buyers are starting to get aggressive.

Relative Strength Index (RSI)

Currently, the RSI level is 60 and it is in a buying zone. The level has been on a rise since the stock has taken a break-out at its 200 EMA level and it may enter into an overbought zone if the prices increase further.

Candlestick Patterns

The candlestick patterns, however, do not indicate a specific signal, but if we look at the recent patterns, we can see some bullish candles breaking the high levels of previous candles indicating the possibility of an upside.

Conclusion

Overall, the price has shown a consistent rise in the market and after looking at all the indicators, we can say that the price is expected to rise further in the near future by showing some stability in its prices and taking proper retracements and break-outs.

Technical Levels

• Resistance levels: 0.0158 USDT and 0.0177 USDT
• Support level: 0.012 USDT and 0.009 USDT

Recommended Strategy: Buy

• Stop-Loss: 0.012 USDT

Disclaimer

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