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.
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💎 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
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