In this LIT technical analysis, we will examine the current price action, trading volume, key levels and indicators for LIT-USDT. LIT is a decentralized cryptocurrency that utilizes a novel consensus algorithm called “Proof of Stake with Recursive zk-SNARKs” to achieve fast and secure transactions. This innovative approach allows for the validation of transactions without the need for expensive and energy-intensive mining equipment, making LIT an attractive option for environmentally conscious investors. Additionally, LIT’s use of zk-SNARKs enables privacy-preserving transactions, ensuring that users can maintain their financial confidentiality while still benefiting from the security of a decentralized network.
LIT Price Overview:
As of July 06, 2024, LIT is trading at approximately 0.655 USDT. Let’s dive into the detailed price action for LIT-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.626 |
| High (H) | 0.656 |
| Low (L) | 0.624 |
| Close (C) | 0.655 |
| Volume (C) | 577,218.30 |
- Open (O): The opening price for today’s trading session was approximately 0.626 USDT.
- High (H): LIT reached a daily high of around 0.656 USDT.
- Low (L): The daily low for LIT-USDT was approximately 0.624 USDT.
- Close (C): At the time of analysis, LIT is trading near its daily close of 0.655 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.63% |
| 3D Change (%) | -11.73% |
| 7D Change (%) | -15.27% |
| 30D Change (%) | -49.30% |
| 90D Change (%) | -56.19% |
| YTD Change (%) | -35.21% |
Over the past three days, LITUSDT has declined by approximately -11.73%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -15.27%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LITUSDT maintaining a downward trend of approximately -49.30%, despite intermittent fluctuations. Examining the last 90 days, LITUSDT has witnessed substantial fall of approximately -56.19%, reflecting strong long-term confidence. Year-to-date, LITUSDT has steadily depreciated by around -35.21%, 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-USDT 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 0.71898.
- Momentum score is -0.29646.
LIT USDT Technical Analysis
LIT Trading Volume:
The trading volume for LIT (LIT) over the past 24 hours has been insignificant, with approximately 577,218.30 USDT 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-USDT is currently in the low zone, around 36.86695. This suggests that LIT is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
LIT (LIT-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Assess LIT’s (LITUSDT) risks at 6.55e-01 USDT with bearish technical analysis, highlighting weakened support and cautionary indicators.
Don’t overlook our detailed insights on LIT BTC LIT Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
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.