LCX Price Prediction: Could LCX hit $0.1 in 2023?

Key Takeaways:

• The LCX price has been trading incremental for the past couple of days displaying the immense strength required to maintain the upswing for a longer time frame
• The price after rising significantly in the past few days is believed to maintain a notable upswing for the rest of 2023 and achieve the desired resistance close to $0.1

Additional Read: Top Cryptos that crashed more than 70 percent in 2022

LCX Price History

• LCX price inception the world of trade in late 2019 with a record low prices at $0.00007 and later kept on inflating 
• The price rebounded from the March 2020 lows and crossed the cent threshold of the bearish influence 
• The price maintained a significant upswing with the beginning of the bull market in 2021 and marked highs at around $0.5770
• Further when the market fell ahead in May 2021 caused an extended bearish stagnation, the LCX price is expected to react positively in the coming days

LCX Technical Analysis

Source: Tradingview

• The LSK price has been trading within the bearish influence from quite a long time and with the recent price jump, the price sliced through the pattern and surged high
• The token is currently testing one of the pivotal resistance at $0.0531 and constantly facing minor rejections, unable to rise beyond these levels
• After a brief consolidation below these levels, the price could breach through these levels and the range high to reach the next target levels at $0.0632
• Once these levels are secured, then the rally may rise high to reclaim the lost position above $0.1 price zone

Overview of LCX On-chain Analysis:

LCX Daily Active Address

Source: Santiment

The daily active addresses are the number of addresses interacting with the platform regardless of the type of trade they perform. It may be either buy, sell trade or just swap the token with other assets. A rise in the metrics denotes the rising interest in the platform as it may directly impact the volatility and finally the price. The LCX DAA has spiked enormously in the past few days which signifies the extreme activity of the traders over the platform that may have a positive impact on the price in the coming days.

Supply on Exchanges

Source: Santiment

The supply on exchanges indicates the wallet reserves of the platform which denotes the presence of liquidity to carry out the trade. With a rise in the supply, it indicates that the traders are transferring onto the exchanges with the intention to either swap or sell the token. Presently, the supply appears to have dropped heavily which indicates the accumulation of traders who are not willing to sell their holdings.

LCX MVRV Ratio (30 days)

Source: Santiment

The MVRV ratio is the comparison between the mean value and the realized value. It determines whether the token is within the undervalued range or overvalued range. A rise in the metrics denotes the prices hovering within an overvalued range carrying the possibility of a rejection. However, the price’s MVRV score ranges within negative ranges, hence indicating the token to be within the undervalued range.

LCX Whale Accumulation

Source: Santiment

Whale accumulation is considered an important indicator to have an idea of the upcoming trend. Whales do accumulate in bulk during the bear market, mainly when the bottoms are approaching. Therefore, a rise in the accumulation indicates that the trend reversal may occur shortly which may uplift the price notably. On the contrary, a drop in the holdings creates a sense of FUD that could negatively impact the price. Here, the LCX whales holding 10K to 1M have intensified their holdings while addresses holding 1M to 100M have dropped. 

LCX Price Prediction for 2023

LCX price has been dropping hard since its inception and reached rock bottom levels after the bearish clouds hovered over the entire crypto space in 2022. However, the price is trying to rise from the lowest support zone but the bears are restricting the price at one of the crucial resistance around $0.05. Meanwhile, the volume has faded to a large extent which may have a deep impact on the value of the token.

The price appears to be poised to slice through these levels and quickly gain levels beyond $0.06 by the end of the month. Further by the end of Q1 2023, the price could hover around $0.08 and by the end of H1, it may attempt to slash a zero in its value. As the trade advances, the end of Q3 may be bullish in marking the levels above $0.11 and by the end of 2023, the LCX price may try hard to achieve levels beyond $0.125 or close to $0.14.

Read more: Ethereum Price Prediction

LCX Price Prediction for 2024

The LCX price may quickly reclaim the values beyond $0.15 in the first few days of 2024. After undergoing a deep bearish trend in 2022 and a recovery phase in 2023, the price may rise high, to begin with, a notable upswing in 2024. The aim of the token may be to reach the levels around $0.2 by the end of H1 but is expected to experience a notable bearish action above $0.18. 

Moving ahead, after gaining levels above $0.2 during the first few days of Q3 2024, the price may sustain the bullish momentum to head toward $0.3. Meanwhile, it may further proceed high intending to for a new ATH but could be restricted at $0.5 which is one of the most levels to crack. These levels may be tested and cleared during Q4 2024 but woefully, the asset may certainly not mark a new ATH in 2024.

LCX PRICE PREDICTION 2025-2030

The bullish trend that began in 2024 may carry forward in 2025 where the price may mark new highs beyond $0.6. After rising heavily and trading close to $1 in 2026, the price may experience a strong bearish action and may face a strong pullback to reach levels around $0.75. However, the correction and consolidation phase may prevail for a long time until the token regains the strength to propel high. 

Further, the year 2027 may remain largely consolidated below pivot resistance levels at $1 and the token may rise slightly high in 2028. Moving towards the 2029 trade, the LCX price is believed to inflate slightly and reach levels around $1.5 and by the end of the 2030 trade, it may attempt to secure levels beyond $0.2 or $0.25. 

Read more: Bitcoin Price Prediction

Should you invest in LCX in 2023? 

LCX has a trading history of just a few months and has gained significant recognition within the crypto space. The price presently may appear to be struck up within a deep bearish trend but eventually may rise finely in the coming days, incurring notable profits in the long term. However, before investing in LCX or any other token, a deep knowledge of the crypto markets and their trend behavior is very important.

FAQs