FxWirePro: LSK/USD breaks major trendline resistance, good to buy on dips

Lisk/USD has shown a decisive breakout at major trendline resistance at 13.95 levels.

Next bull target 21.68 (238.2% Fib extension of 12.21 to 5.36 fall).

Technicals support rise higher:

- Bollinger bands expanding

- Momentum studies bullish

- ADX above 25 and rising with +ve DMI dominance

- Upside supported with rising volumes

Support levels - 13.74 (5-DMA), 9.60 (61.8% Fib), 7.96 (50-DMA)

Resistance levels - 19.07 (200% Fib extension), 21.68 (238.2% Fib extension), 23.30 (261.8% Fib extension)

Recommendation: Good to go long on dips around 17/17.36, SL: 14.80, TP: 19/ 21.60/ 23.30