$LIT : ONE LEVEL COULD DECIDE EVERYTHING | $10 OR $1.18?
#LIT is showing a higher-timeframe breakout and retest, with the former resistance now acting as potential neckline support.
Bullish Scenario:
➤ Hold $2.82 support
➤ HTF close above $4.142 = bullish flip
➤ Next resistance: $5.566
➤ Target: $9–$10
Bearish Scenario: LIT/USDT has already rallied 616% in 7 months. I’m cautious about chasing here, especially with the rising-wedge breakdown visible on the chart.
If $2.82 fails on an HTF closing basis, I’m watching $1.65–$1.18 as a potential deeper retracement zone.
My strategy: Bullish toward $10 above key support, but prepared for a deeper correction if $2.82 breaks.
$2.82 is the level to defend. $4.142 is the level to reclaim.
NFA & DYOR
#LIT is showing a higher-timeframe breakout and retest, with the former resistance now acting as potential neckline support.
Bullish Scenario:
➤ Hold $2.82 support
➤ HTF close above $4.142 = bullish flip
➤ Next resistance: $5.566
➤ Target: $9–$10
Bearish Scenario: LIT/USDT has already rallied 616% in 7 months. I’m cautious about chasing here, especially with the rising-wedge breakdown visible on the chart.
If $2.82 fails on an HTF closing basis, I’m watching $1.65–$1.18 as a potential deeper retracement zone.
My strategy: Bullish toward $10 above key support, but prepared for a deeper correction if $2.82 breaks.
$2.82 is the level to defend. $4.142 is the level to reclaim.
NFA & DYOR