LISTA, the Native Token of Lista DAO, Has Declined by Almost 30% in the Last 24 Hours

LISTA is under significant selling pressure. Its key momentum indicators were spotted below their respective center lines at press time.

The native token of Lista DAO (LISTA), a decentralized, open-source stablecoin lending protocol, has seen a notable decline of nearly 30% in the last 24 hours.

This follows a recent surge in the altcoin’s price, which saw it reach an all-time high of $0.84 on 21 June. The token’s price surged after leading cryptocurrency exchange Binance announced LISTA’s integration across some of its trading platforms, including Binance Simple Earn, Buy Crypto, Convert, Margin, and Futures.

This integration led to a 13% spike in the token’s value. However, exchanging hands at $0.57 at press time, LISTA’s value has since declined by 32%, according to CoinMarketCap.

A glance at LISTA’s price performance on the hourly chart reveals a dwindling demand for the altcoin. Its key momentum indicators are spotted below their respective center lines at press time.

For instance, the token’s Relative Strength Index (RSI) is 35.24, while its Money Flow Index (MFI) is 9.94.

These indicators are used to measure an asset’s overbought and oversold conditions. Their values typically range between 0 and 100, with readings above 70 indicating that the asset is overbought and might be due for a correction. In contrast, readings below 30 signify that the asset is oversold and could be poised for a rebound.

At their values at press time, both RSI and MFI readings indicate a preference for token distribution, suggesting that selling pressure is outweighing buying activity for LISTA.

Moreover, the token’s Chaikin Money Flow (CMF) is -0.22 at press time. This indicator measures money flow into and out of an asset’s market.

A CMF value below zero is an indication of market weakness. It is a bearish signal, suggesting that traders are pulling their capital out of the market. When an asset’s price is decreasing and its CMF falls below zero, traders often interpret this as a signal that the price decline will continue.

Readings from LISTA’s moving average convergence divergence (MACD) indicator further support the bearish bias. The MACD line (blue) is positioned below its signal (orange) and zero lines at press time.

This indicator is used to identify potential buy and sell signals. When set up like this, it is considered a bearish signal, indicating that it may be a good time to sell.

News source：https://www.kdj.com/cryptocurrencies-news/articles/lista-native-token-lista-dao-declined-hours.html

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