LIT is bouncing from the demand zone and there are a lot of buyers in this area. The wicks show the price rejection and heavy buying. Now we will see a good bounce in LIT from these levels. Good time to build your position.
Buy Zone: $8.4 - $8.55
Target: $9.3 - $9.9 - $11.15 - $12.66 - $14.3 - 15.8
IMPORTANT TIP: CRYPTO Market IS AT TOP, On Weekly Timeframe BTC is Bearish . Still Alt Coins are Rising Continuously, Don't Know Where ALTS will take U TURN. Thts Why "I Request Please Invest Just 1-2% in Alts Whenever We Post Signals"
➡️Entry: 8.5$ or Last price
🎯Target 1: 12.4$
🎯Target 2: 14.1$
🎯Target 3: 18$
LIT is stuck in a massive channel that spans over 100% in price movement. Since this is a flat trend, the best one can hope in such a scenario is to play the top and bottom range as indicated by resistance and support levels.
Nevertheless a breakout from this channel will lead to a significant price action. My bias is that LIT will eventually break-up from this...
Now it is one of the very good conditions
for buying because bitcoin has rising
conditions and the currency hood has
just broken the triangle roof and is ready to fly.
This transaction can be a low risk transaction
LIT has been accumulating over the past weeks.
Right now it has broken out of this triangle and has already tested the support!
Right now we need to get out of the last hard area and then we will see new ATH!
If we get rejected, we will see lower prices (red area)
Orange area - buying zones
Red area - support level
I think this could potentially be one of the most beautiful bull pennants that I have ever seen.
Make sure you re-load on the re-test.
This identity-focussed coin has an MCAP of only $1 billion, so it's worth adding to your small/medium -cap holdings.
LIT has been consistent in setting higher lows in the last few weeks, forming a very large ascending triangle which is caught within an even larger one if we are to extend the ATH resistance line.
While a simple pattern is not sufficient to be bullish, we also have confirmation on the indicators. MACD on daily is looking very good with a bullish cross four days...