Lambda has a bearish short-term bias, with price still trading below key technical resistance on the four-hour time frame
The four-hour time frame shows that a large inverted head and shoulders pattern is building
The daily time frame highlights that the cryptocurrency is attempting to build strength above its 50-day moving average
Lambda / USD Short-term price analysis
Lambda has a bearish short-term bias, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that a large inverted head and shoulders pattern has formed, which would more than double the value of the LAMB / USD pair.
Technical indicators are bullish on the four-hour time frame and continue to issue strong buy signals.
Pattern Watch
Traders should expect a test of key neckline resistance if price starts to stabilize above the LAMB / USD pair’s 200-period moving average.
Relative Strength Index
The Relative Strength Index on the four-hour time frame is bullish and shows scope for significant upside.
MACD Indicator
The MACD indicator on the four-hour time frame is bullish and continues to generate a strong buy signal.
Lambda / USD Medium-term price analysis
Lambda has a neutral medium-term bias, with the LAMB/BTC pair attempting to gain strength above its 50-day moving average.
The daily time frame is showing that an inverted head and shoulders pattern is starting to take formation, which implies more medium-term upside for the LAMB / USD pair.
Technical indicators on the daily time are neutral and are currently failing to generate a clear trading signal.
Pattern Watch
Traders should expect a test towards the neckline of the bullish pattern if the cryptocurrency continues to firm above its key 50-day moving average.
Relative Strength Index
The RSI indicator is flatlined on the daily time frame and is failing to issue a clear trading signal.
MACD Indicator
The MACD indicator is neutral on the daily time frame and is currently failing to generate a clear trading signal.
Conclusion
Lambda may see more strong gains ahead as both the four-hour and daily time frames are showing the formation of large bullish patterns.
Overall, further price stabilization above the LAMB / USD 50-day moving average is likely to trigger a test of key neckline resistance.
Lambda Chart
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