Here's my analysis for LIT:
Based on these observations, my overall outlook for LIT remains bullish. However, I anticipate a phase of consolidation or correction in the near term.
I plan to monitor for a potential test of the green support line and the lower boundary of the ascending channel.
- We observed a low in August, accompanied by bullish RSI divergence.
- A new higher high was achieved in late October.
- The token is trending within a well-defined ascending channel (illustrated in black).
- Recently, there was a failed attempt to break out from this channel, marked by bearish RSI divergence.
Based on these observations, my overall outlook for LIT remains bullish. However, I anticipate a phase of consolidation or correction in the near term.
I plan to monitor for a potential test of the green support line and the lower boundary of the ascending channel.
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