LIT/USDT Parabolic recovery on its way. Explosive?

29 lug 2021

Litentry finally starts to recover from it's harsh decline during May and June.
We see a volume increase which is indicated in the daily chart with a cyan line.
The RSI on the daily shows a trend reversal analogue to the price action.
LIT now did face some resistance around 3.8$ but this is expected to be temporary.
The 4h chart shows a golden cross with the 50MA and 200MA involved.
A first target can be set around 6$ with the second around 14$.


Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place

Enjoy the ride and don't be too greedy.
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ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.