(LSK) has taken one of the worst falls in the history of cryptocurrencies. It is currently down more than 85% from its ATH. The price is looking to recover long term but short term the bloodbath is not over. Regardless of that, Lisk (LSK) has managed to stay close to $5 for the most part. This is a cryptocurrency
which at a price of $40, was expected by many to reach $200 by the end of the year. This optimism stems from a strong interest in Lisk (LSK) in late 2017. This was mainly because Lisk (LSK) emerged as a strong competitor in the smart contracts space and earned its spot in the top 20 league.
However, during the correction, investors showed Lisk (LSK) no mercy as they dumped mercilessly on most exchanges. The good looking and robust smart contracts platform is once again in the forgotten coins list as investors move towards new, seemingly more attractive opportunities like Zilliqa (ZIL) and Ontology (ONT). This is the way it happens in the cryptocurrency space. Every coin has a FOMO period during which it spikes up based on speculation, hope and greed. It is then followed by a period of massive profit taking and panic selling. After that, a period of slow but steady accumulation begins if the project has long term potential.
That is exactly the case with Lisk (LSK). Critics believe that Lisk (LSK) despite being an exceptionally sophisticated and user-friendly platform will still take its time as the project is a lot more demanding than it seems. They express concern that it is likely that other platforms might beat Lisk (LSK) to the race and offer quite early what Lisk (LSK) is working on to offer at a later stage. While that may be true, most analysts still believe that Lisk (LSK) is a strong buy at $5. This is because the project has outstanding long term prospects unlike some pump and dump projects that quickly lose their luster after the FOMO rally is over. The 4H chart for LSK/USD shows that Lisk (LSK) faces strong downtrend resistance at the momentum and can fall back to lower levels in the days to come. Future prospects however remain unaffected.