Bitcoin btc
$ usd
Technical Analysis

Litentry (LIT) Breaks out From Short-Term Resistance Amid Growing Bullish Sentiment

2 mins
Updated by Geraint Price

In Brief

  • LIT is following a long-term descending resistance line.
  • There is resistance at $3.50 and $4.25.
  • LIT has completed an A-B-C corrective structure.
  • promo

Litentry (LIT) has been increasing since Feb 24. It would confirm that the correction is complete with a breakout from a long-term descending resistance line.

LIT has been falling underneath a descending resistance line since reaching an all-time high price of $18.82 on Feb 4.

The line has been validated four times, most recently on Nov 28 (red icon). The final rejection caused an acceleration of the downward movement and led to a low of $1.073 on Feb 24 (green icon). The price has been moving upwards since. 

If the upward movement continues, the aforementioned resistance line would be at $4. 

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.