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Litusdt

LIT/USDT is breaking out after consolidationHey guys, Another quick analysis here. LIT was consolidating like many other alt coins. I believe the consolidation is over and we started to break out to the upside. Why? 1. We were in a down trend in the hourly. It seems like we are breaking above the trendline right now. 2. We are very close to the bottom Bollinger Band. Moreover, LIT is moving in an upward sloping band. The bottom of the Bollinger Band overlaps with the bottom of the upward sloping channel. 3. I have been watching the chart closely since yesterday. I was expecting the price fall to mid $10s, but the buy pressure around $11 is very strong. The price tried to break down a few times below $11 in the hourly but wasn't able to succeed. The sellers have exhausted themselves. The volume has been faded. It seems like it is time for reversal. This is how I evaluate the LIT chart. This is definitely NOT a trade or financial advice. Let me know what you think about my analysis. Thanks!
Long
by TableLamp
2
LIT/USD - We left the channel. Bearish price action!⛔As expected, after quite a nice pump to almost $15, LIT corrected quite deeply and we fell off our large ascending channel. This is no surprise, because LIT is still a young coin and price has to find its support and resistance levels, so volatility remains high. Where are we now? After falling off the ascending channel we had one small attempt to pull back in, but that was quickly pushed back... this is bearish. Then the indicators are not looking too good. We have a bearish MACD and RSI on 4h timeframe. Therefore I expect us to fall a bit lower up to around $10 when I would expect LIT to pump out again. So watch the key area in blue because there price will have a sharp reaction. If we fall under $10, then that won't be good... but too early to call that and seems unlikely. For now I remain bearish as long as we don't break this diagonal resistance. Like and follow if you liked this idea. Also join my crypto community to stay in touch!
Short
by DU09
8
LIT/USD - LIT preparing to EXPLODE! 🚀🚀🚀LIT is doing some nice gains every day, a bit shy, but the trend is very clear and we appear to slowly form a massive ascending triangle! What I love however are the indicators... MACD on 4h just did a beautiful cross on the positive side these past 24h, RSI is going up... the only thing missing is some nice volume to propel us upwards. But that will come as soon as we move away from the ATH and break that resistance at $9. When that happens, I expect massive gains in a short period. Prepare the rocket because we may have some explosive green candles ahead of us. :) Bias is extremely bullish as long as we maintain the trend/support. Like and follow if you liked this idea. Also join my crypto channel to stay in touch!
Long
by DU09
9
LIT/USD - Path to $60 🚀🚀🚀LIT has done very well since my last idea. As you can see we are comfortably sitting over $14! Not bad right? :D We appear to be in a very nice ascending channel on the way up on leg 3 which is always the longest and largest... using a nice Fib extension we see that if this holds true, we can easily go to $30 before any sustained correction back to $18. On this road to heaven, we have a few bumps. The first one is at $16-17, then the channel mid-point around $20 and lastly the top at $30 where I would expect a rejection if we make it there before pushing higher still. LIT is a great long term hold at least until summer, therefore, don't rush to sell because this chart is anything but bearish. Have a plan, have a strategy, take profits at key levels. This path here ends at $60, LIT can go higher this year and this path may not look like this in a month, however, LIT will continue to grow, especially due to its low circulation supply. Enjoy the profits! Like and follow if you liked this idea. Also join my crypto community to stay in touch!
Long
by DU09
8