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Digital Currency Revolution Series: Lisk hard-fork in action – LSK/BTC dragonfly doji and hammer cushions with mild rallies
The Lisk blockchain will soft fork this Friday primarily to improve network transaction processing efficiency and make the LSK token easier for exchanges to manage.
As per the Lisk’s blog, they announced Lisk released Core 2.0.0 to the Mainnet which is the first Lisk Core release built using the Lisk SDK.
This is the first Lisk Core release built using the Lisk SDK. For this purpose, together with Lisk Core we also published the Lisk SDK to the NPM registry with the same version number — 2.0.0. While the soft fork is reported to be triggered on August 23, 2019, an upgrade before this date is mandatory.
The release has several breaking changes. It also completes a number of objectives on the Architecture and Design phase of our roadmap. We are changing our software license from GNU GPL v3.0 to a more permissive Apache 2.0. We have published Lisk SDK 2.0.0 to the NPM registry — custom transaction support comes with 2.1.0 scheduled for a release tomorrow, as per the announcement.
The price of LSK to BTC has halted its bearish rout and gained somewhat on the back of this underlying news in the recent past.
The initial announcement of the fork on July 23rd created some short term buying activity and the actual fork may have a similar effect, although the price of LSK has tumbled about 13% in the recent weeks as you can observe weekly plotting above.
Technically, on daily plotting of LSKBTC hammer & dragonfly doji pattern candlesticks have occurred at 0.0001105 and 0.0001148 take-off rallies above DMAs, whereas shooting star counters, while both leading and lagging oscillators substantiate short-term bullish momentum.
The major trend constantly slid below EMAs on shooting star & 3-black crow formations, both leading oscillators substantiate bearish strength. Hence, there are no traces of considerable recoveries, in the long run, it is wise enough to wait for the better clarity of the major trend. Courtesy: BNC, Lisk sources & TradingView