LBRY Credits (LBC) doesn’t receive much attention. However, on Mar 4, 2019, it was revealed that the LBRY has more active contributors than IOTA (MIOTA).
The cryptoasset has a developed application which acts as decentralized digital content distribution protocol and marketplace. It supports a variety of media types including songs, videos, and ebooks and rewards users for posting and sharing content.
With a functional product, growing interest, and a developing community of active contributors, LBRY Credits may see forthcoming price increases. However, if it is not able to gain a wide enough audience, the digital marketplace may falter and fail.
Key Highlights for March 5
- The price of LBC reached a high of $0.0285 on Feb 23.
- Price broke out of a descending wedge on Mar 5.
- The breakout was preceded by bullish divergence.
- There is resistance at $0.025, $0.0265 and $0.0275.
- There is support at $0.023.
- LBC is currently trading at over $0.024.
For those of you who doubt the amount of interest in $LBC (@LBRYio), think of this: it currently has more active #contributors than $MIOTA. pic.twitter.com/mBaoSa8utp
— Ward On Bitcoin™ (@WardOnBitcoin) March 4, 2019
The Flash Crash
The price of LBC on Bittrex is analyzed on 1-Hour intervals from Feb 22 to Mar 5. It reached a high of $0.0285 on Feb 23. A flash crash followed the next day. A downward trend has followed—though recent increases suggest a possible recovery.The Descending Wedge
The descending resistance line is created by inverting the method used for the support line. Successive highs, rather than successive lows, are traced.Divergence And Signal Trigger
The Moving Average Convergence Divergence (MACD) is a trend indicator that shows the relationship between two moving averages (long and short-term) and the price. It is used to measure the strength of a move.After The Breakout
Final Analysis
Combining MACD bullish/bearish divergence with a support/resistance essentially predicts price fluctuations. It is especially effective when there is a bullish divergence on a bullish pattern and vice versa. A MACD signal can be used to further add validity to the divergence analysis. Given the above information, the price of LBC may break out above the first resistance area and reach $0.0265 and eventually $0.0275. Where do you think the price of LBC will make a top? Let us know what you think in the comments below, and check out our transparent Bitcoin Price Predictions! Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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