LIT/USD - Stuck in a massive channel. Break-up to $30 possible?

2021年4月28日

LIT is stuck in a massive channel that spans over 100% in price movement. Since this is a flat trend, the best one can hope in such a scenario is to play the top and bottom range as indicated by resistance and support levels.

Nevertheless a breakout from this channel will lead to a significant price action. My bias is that LIT will eventually break-up from this channel and at a minimum will double in price so the next top can be anywhere around $30.

A possible path is presented on the chart. For now I expect us to move higher in this channel and eventually break-up.

The indicators are also trying to curve up and once we have a bullish cross on MACD moving averages we should have some good momentum behind us to explore higher levels.

Keep a close eye on LIT since I am sure it will give us some exciting price action in the future!

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