The 5.4% rebound in stock $LIT , when viewed over 7 days, is still -16%, and over 30 days, -38.5%—at the same price, short-term and swing traders see almost two different stories. The daily chart shows it stabilizing around $3 for two days, but trading volume has shrunk from over $130 million at the beginning of the month to $60 million. This seems more like a recovery after a temporary exhaustion of selling pressure, not a bottoming out of significant trading activity.
Looking at the 30-day chart, it steadily declined from $5.3 to around $3 with almost no significant rebounds. The real turning point came after October 15th—the $3.09, $3.03, and $3.04 levels form a horizontal line, indicating that there was buying interest in this range. The problem is that volume hasn't kept up. For a rebound to be valid, we need to see a breakout and hold above $3.2 with significant volume; otherwise, $2.83 will be the next test level.
What's more worrying is that it's still -61% away from ATH, ranking#90in market capitalization. If the overall liquidity of the sector doesn't recover, it's difficult for a single token's rebound to go far independently.
So the issue isn't whether it will rise or not, but what scale you use to view it: for short-term trading, watch the resistance at $3.2; for swing trading, watch the support at $2.83. $LIT is currently stuck between the two. Which perspective are you using?
Looking at the 30-day chart, it steadily declined from $5.3 to around $3 with almost no significant rebounds. The real turning point came after October 15th—the $3.09, $3.03, and $3.04 levels form a horizontal line, indicating that there was buying interest in this range. The problem is that volume hasn't kept up. For a rebound to be valid, we need to see a breakout and hold above $3.2 with significant volume; otherwise, $2.83 will be the next test level.
What's more worrying is that it's still -61% away from ATH, ranking#90in market capitalization. If the overall liquidity of the sector doesn't recover, it's difficult for a single token's rebound to go far independently.
So the issue isn't whether it will rise or not, but what scale you use to view it: for short-term trading, watch the resistance at $3.2; for swing trading, watch the support at $2.83. $LIT is currently stuck between the two. Which perspective are you using?