In this LIT technical analysis, we will examine the current price action, trading volume, key levels and indicators for LIT-BTC. LIT is a decentralized cryptocurrency that utilizes a proof-of-stake consensus algorithm to secure its network and validate transactions. It boasts fast transaction speeds and low fees, making it an attractive option for those looking for a more efficient and cost-effective digital asset. Additionally, LIT’s unique features and capabilities make it an exciting development in the cryptocurrency space, with potential use cases in various industries such as gaming, finance, and supply chain management.
LIT Price Overview:
As of June 17, 2024, LIT is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for LIT-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 113,345.70 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): LIT reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for LIT-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, LIT is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -5.17% |
| 3D Change (%) | -6.85% |
| 7D Change (%) | -12.18% |
| 30D Change (%) | -15.38% |
| 90D Change (%) | -35.17% |
| YTD Change (%) | -44.68% |
Over the past three days, LITBTC has declined by approximately -6.85%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -12.18%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LITBTC maintaining a downward trend of approximately -15.38%, despite intermittent fluctuations. Examining the last 90 days, LITBTC has witnessed substantial fall of approximately -35.17%, reflecting strong long-term confidence. Year-to-date, LITBTC has steadily decreased by around -44.68%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
LIT Live Chart:
You can access a live price chart for LIT-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.63925.
- Momentum score is -0.1791.
LIT BTC Technical Analysis
LIT Trading Volume:
The trading volume for LIT (LIT) over the past 24 hours has been significant, with approximately 113,345.70 BTC traded against LIT. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): LIT is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): LIT is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LIT-BTC is currently in the low zone, around 38.58418. This suggests that LIT is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
LIT (LIT-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for LIT (LITBTC) at 1.32e-05 BTC through bearish technical analysis, featuring weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on LIT USDT LIT Technical Analysis — a perfect follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.