- Lambda has a bullish short-term bias against Bitcoin, with the LAMB / BTC pair attempting to move above key technical resistance
- The four-hour time frame shows the presence of a bullish inverted head and shoulders pattern
- The daily time frame highlights a major range breakout may be underway
LAMB has gained bullish momentum after Huobi Global announced that it will list Lambda on July 30. This should add more liquidity to the coin and allow the project to expand its reach to a higher number of potential investors and users.
Lambda / Bitcoin Short-term price analysis
Lambda has a bullish short-term bias against Bitcoin, with the cryptocurrency attempting to move above key technical resistance.
The four-hour time frame shows that a large inverted head and shoulders pattern has formed, with bulls attempting to hold price above neckline resistance.
Technical indicators are bullish on the four-hour time frame and continue to issue strong buy signals.
Traders should expect further upside in the LAMB / BTC pair if bulls hold the price above key neckline resistance.
Relative Strength Index
The Relative Strength Index on the four-hour time frame is bullish, although the indicator is extremely overbought.
The MACD indicator on the four-hour time frame is bullish and continues to generate a strong buy signal.
Lambda / Bitcoin Medium-term price analysis
Lambda has an increasingly bullish bias against Bitcoin over the medium-term, with the LAMB / BTC pair performing its strongest ever daily price close.
The daily time frame is showing that LAMB / BTC bulls are attempting to breakout from a horizontal price range. Daily price closes are now key for further upside.
Technical indicators on the daily time are bullish and are currently generating a strong bullish signal.
Traders should note that a sustained range breakout could see the LAMB / BTC pair gaining over fifty percent in value.
Relative Strength Index
The RSI indicator is bullish, although it has moved into extreme overbought territory on the daily time frame.
The MACD indicator is bullish and is currently generating a strong buy signal on the daily time frame.
Both the four-hour and daily time frames highlight that a strong bullish breakout may soon occur in the LAMB / BTC pair.
According to the horizontal price channel on the daily time frame, the cryptocurrency could gain more than fifty percent in value if a bullish breakout does occur.
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