LIT potential scenarios
LIT is currently at the lower boundary of a descending wedge. This pattern indicates increased selling pressure, but it also shows a gradual reduction in that pressure, suggesting a potential reversal.
Potential Scenarios:
Breaking Out of the Descending Wedge:
If LIT manages to break out of the descending wedge to the upside, it could lead to a price increase toward targets of $0.8 and $0.93. These levels would act as key resistance points, and surpassing them could further strengthen the bullish trend.
Continuation of the Downtrend:
If LIT fails to break out of the descending wedge, the downtrend might continue. In this scenario, support levels at $0.53 and $0.61 can be crucial for observing market reactions and analyzing the next moves.
Potential Scenarios:
Breaking Out of the Descending Wedge:
If LIT manages to break out of the descending wedge to the upside, it could lead to a price increase toward targets of $0.8 and $0.93. These levels would act as key resistance points, and surpassing them could further strengthen the bullish trend.
Continuation of the Downtrend:
If LIT fails to break out of the descending wedge, the downtrend might continue. In this scenario, support levels at $0.53 and $0.61 can be crucial for observing market reactions and analyzing the next moves.
💎 We believe that everyone can trade and deserves the opportunity to succeed in the world of cryptocurrency and take advantage of its potential.
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
🥇Join our free Telegram channel ➜ t.me/monocoin_public
👤Admin ➜ t.me/monocoin_admin
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.