LSK Sees Massive Liquidations After Binance Deposit

LSK has seen significant liquidations following an unusual deposit to Binance. The cryptocurrency recorded $44.38 million in global liquidations over a 24-hour period, second only to Ethereum's figures. This comes after an associated wallet transferred 3.29 million tokens worth $3.79 million to the exchange just five hours prior.

The price of LSK initially dropped from $2 to $1 before plummeting further to $0.7, rebounding slightly towards $1.17 before settling at its current level of $0.77. The 4h chart shows that LSK trades within the Bollinger Bands with upper resistance at $0.88.

The MACD golden cross at 0.16 confirms a bullish momentum for LSK, with the price sitting above both the EMA50 support at $0.22 and EMA200 at $0.13. However, the RSI of 67.82 suggests there is room for a healthy pullback before continuation.