LIT potential scenarios

١٢ أغسطس

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.