LIT/USDT Parabolic recovery on its way. Explosive?

29 de jul. de 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.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers

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.