- LINA price has surged to the highest level in a month.
- Linear Finance has seen the total value locked (TVL) has risen to $11M.
Linear Finance (LINA) price was among the top-performing cryptocurrencies on Monday. LINA jumped to a high of $0.0175, the highest point since February 21st. At its peak, LINA was up by over 180% from its lowest point this year.
What is Linear Finance?
LINA is the native token for Linear Finance, an Ethereum dApp that makes it possible for people to stake and build Liquity USD (LUSD). LUSD is one of the upcoming stablecoins with a market cap of over $263 million.
Linear also runs Linear Exchange, which is a platform where users can buy and sell cryptocurrencies like Cardano, Ethereum, and Polkadot. The other products in its ecosystem are Linear Swap, which is an alternative to Uniswap and PancakeSwap. Also, it runs Linear Vault, which is a platform where people earn passive income.
In total, Linear Finance has a total value locked (TVL) of over $11.89 million. At its peak in December 2021, it had a TVL of more than $30 million. In Lina terms, however, the DeFi TVL has jumped to the highest point in months.
It is unclear why the LINA price has jumped in the past few days. A likely reason is that this performance is in part because Liquity has also done well, as we wrote here. Liquity has been one of the top altcoins in the past few months. LUSD has also maintained its peg.
Further, this performance is also because of the strong recovery of Bitcoin price in the past few days. BTC soared to a high of $28,000 for the first time in months. In most periods, altcoins like LINA tends to track the performance of BTC.
LINA price prediction
The four-hour chart shows that LINA price has formed a gravestone doji pattern, which is characterized by a long upper shadow and a small body. It has moved above all moving averages while the MACD has moved above the neutral level. The Relative Strength Index (RSI) has moved to the overbought level, the highest level since September 21st last year.
Therefore, Linear Finance price will likely retreat because of the gravestone doji pattern. If this happens, the coin will likely continue falling as sellers target the key support at $0.010. A break above the key resistance at $0.017 will invalidate the bearish view.
