Generative Data Intelligence

Lybra Price Prediction: LBR Boosts 20% – Can It Outshine Its Competitors?

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Lybra (LBR) experienced a remarkable 20% daily surge, drawing significant attention from the investor community.

The token is currently trading at $1.09, marking a 4% rise over the past 24 hours as of 11:08 a.m. EST.

According to data from coingecko.com, the token’s trading volume has shown impressive performance, with a 44% increase in the past 24 hours. This has reached $2.5 million.

Lybra LBR Bulls Could Propel the Price Higher

Lybra Price Prediction
LBRUSD Price Chart. Source: Dextools.io

The lower boundary of the falling wedge saw a surge in LBR price following a prolonged downward trend. This was because the bulls took control and propelled it past the wedge’s upper boundary.

The falling wedge pattern suggests a bullish breakout. This shows that Lybra LBR bulls can drive the price even higher, allowing them to recover their losses gradually.

The relative strength index (RSI) further supports bullish sentiment, currently trading at 77, showing intense buying pressure. If the momentum continues, the RSI could maintain bullish sentiment above the overbought region of 70.

The 50-day and 200-day moving averages also support the bulls for Lybra LBR. The 50-day moving average also supports the LBR price. LBR maintains a bullish bias, backed by a falling wedge pattern. The bulls could propel the price towards $1.35 and $1.55 resistance levels.

However, if the bears push the price lower, a candlestick opening below the 50-day moving average could encourage the bulls to retreat toward the support level of $1.09.

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