The price of the LQTY token from the Liquity protocol has recovered to $1.11 after hitting a low of $1.072. This recovery occurred amid rising trading volume and positive market sentiment.
Short-Term LQTY Price Recovery
LQTY's price dropped by 5.44% over the last 24 hours, reaching a low of $1.072 before bouncing back to $1.11. The recovery appears supported by an increase in trading volumes, amounting to $25.01 million. A strategically important support zone is the range between $1.03 and $1.06, where significant technical buying interest was observed.
Technical Indicators and Uncertainty Level
The price structure on the 4-hour chart shows lower highs and lower lows, indicating bearish sentiment. However, the bounce from the long-term trendline signifies a chance for short-term recovery. The resistance level near $1.12 remains strong, and if the price does not break through, the situation may become more uncertain.
Blockchain Metrics and Community Sentiment Assessment
Overall metrics of the protocol remain stable. With a total value locked (TVL) of $500.72 million and a market cap of $105.72 million, the ratio is low. Recent polling data shows that 88% of users maintain optimism, supporting a positive outlook for the token, despite its volatility.
Despite recent price fluctuations, LQTY remains within key support and resistance levels. The ongoing stability of fundamental metrics and positive public sentiment may contribute to its further growth.
