Technical analysis by SaeedSalehinia about Symbol LQTY: Buy recommendation (12/19/2024)

Liquity is a decentralized borrowing protocol built on Ethereum that utilizes LQTY, a USD-pegged stablecoin. Ether holders can draw loans in the form of LQTY with algorithmically adjusted redemption and loan issuance fees.Anyway, LQTY was in a downtrend from the start. Then, LQTY broke the major downtrend line and started to oscillate in a triangle-shaped pattern, also making a double bottom. Recently, LQTY broke the triangle pattern and started a new upward wave. Let's see how high LQTY can go.