[LITUSDT] Patience will be paying! End of falling wedge.
Hi all!
LIT has been struggling for a good month now since that huge flashcrash 18th of April on all altcoins.
As you can see nevertheless, it stayed in that long accumulation area since its listing on Binance.
Even though volume is still low, I'm still strongly bullish on it for the next few weeks.
You can also notice a strong falling wedge on daily timeframe within this ranging zone.
Fundamentals are really great and LIT is really a one of a kind project in its niche.
With Polkadot's main event around the corner, we can even expect some potential massive news that would fit perfectly with this current bullish chart. A slot on Polkadot's auction would be a great news!
RSI is still very low and MACD's histogram shows a light reversal.
As we are trading under all EMAs on daily TF, we can expect to trade above them if we manage to successfully break this falling wedge by the top.
Dotted line represents a potential resistance we will have to break.
We'll definetely reach the top of that accumulation zone soon (around $13) and then hopefully go for another ATH.
All indicators clearly show we are currently accumulating. And guess why people try to get more of something..? ;-)
This is not an investment advice, always do your own research.
Good luck everyone!
LIT has been struggling for a good month now since that huge flashcrash 18th of April on all altcoins.
As you can see nevertheless, it stayed in that long accumulation area since its listing on Binance.
Even though volume is still low, I'm still strongly bullish on it for the next few weeks.
You can also notice a strong falling wedge on daily timeframe within this ranging zone.
Fundamentals are really great and LIT is really a one of a kind project in its niche.
With Polkadot's main event around the corner, we can even expect some potential massive news that would fit perfectly with this current bullish chart. A slot on Polkadot's auction would be a great news!
RSI is still very low and MACD's histogram shows a light reversal.
As we are trading under all EMAs on daily TF, we can expect to trade above them if we manage to successfully break this falling wedge by the top.
Dotted line represents a potential resistance we will have to break.
We'll definetely reach the top of that accumulation zone soon (around $13) and then hopefully go for another ATH.
All indicators clearly show we are currently accumulating. And guess why people try to get more of something..? ;-)
This is not an investment advice, always do your own research.
Good luck everyone!
