.jpg)
- LISTA’s value has dropped by 30% in the last 24 hours
- Key technical indicators indicated the possibility of a further decline in its value
LISTA, the native token of Lista DAO, an open-source decentralized stablecoin lending protocol, is down nearly 30% in the past 24 hours.
This comes a day after the altcoin rose to an all-time high of $0.84 on June 21. This boom happened when Binance was the leading cryptocurrency exchange Announce LISTA integrates across some of its trading platforms, including Binance Simple Earn, Buy Crypto, Convert, Margin, and Futures.
This resulted in a 13% rise in the value of the token. However, trading hands at $0.57 at press time, LISTA’s value has since fallen 32%, according to CoinMarketCap.
LISTA is under significant selling pressure
LISTA price performance, evaluated on the hourly chart, revealed a significant decline in demand for the altcoin. Key momentum indicators were spotted below their midlines at press time.
For example, the relative strength index (RSI) of the token was 35.24, while the money flow index (MFI) was 9.94.
These indicators measure overbought and oversold conditions for an asset. Its values range between 0 and 100, and readings above 70 indicate that the asset is overbought and a correction is likely. In contrast, readings below 30 mean that the asset is oversold and may record a recovery.
At their values at the time of publication, LISTA’s Relative Strength Index (RSI) and MFI confirmed the token distribution preference. They noted that selling pressure outweighs buying activity.
Furthermore, the token’s Chaikin Fund Flow (CMF) was -0.22 at press time. This indicator measures the flow of money into and out of the asset market.
Source: Abu Gecko Station
A CMF value below zero is considered a sign of market weakness. It is a bearish signal, indicating that market participants are removing their capital from the market. When the price of an asset falls and its CMF falls below zero, traders often interpret this as a signal that the price decline will continue.
LISTA Moving Average Convergence Divergence (MACD) indicator readings confirmed the bearish bias towards it. The MACD line (blue) is below its signal (orange) and zero lines at the time of publication.
This indicator is used to identify potential buy and sell signals. When set up this way, it is considered a bearish signal, indicating that it may be a good time to sell.
