technical analysis for the $LIT /USDT along with trade signals and target levels:
Current Price: $1.167
Trend Analysis: The price has shown strong bullish momentum, increasing by +25.89% in the last 24 hours, indicating strong buying pressure.
Support Zone: The 24-hour low at $0.875 could act as a potential support level.
Resistance Zone: The 24-hour high at $1.250 is a key resistance, and if broken, it could signal a continuation of the bullish trend.
Indicators:
Relative Strength Index (RSI): RSI is currently in the upper range (around 70), indicating that the market is overbought, suggesting a potential pullback or consolidation before further upward movement.
Moving Averages: A short-term moving average (50) is likely crossing above the long-term (200), confirming a bullish crossover.
MACD: The MACD is showing upward momentum, with the histogram in the positive zone, signaling continued bullish pressure.
Trade Signal:
Buy Signal: Entry could be made around $1.16, especially if it holds above the 24-hour low support of $0.875.
Stop-Loss: Below $1.00 to manage risk, as breaking below this level could indicate a bearish reversal.
Target Levels (Price Predictions):
1. Target 1: $1.25 (Immediate resistance)
2. Target 2: $1.35 (Psychological resistance, next possible level of resistance after breaking $1.25)
3. Target 3: $1.50 (Next bullish target if the momentum continues)
Momentum & Conclusion:
The momentum is currently bullish with +25.89% in the past 24 hours and strong volume support. However, since the RSI is nearing overbought levels, there might be a slight retracement before further upside movement. Traders should monitor price action around $1.250 for a breakout confirmation.