#LITUSDT is compressed within a falling wedge pattern, a classic bullish reversal signal.
If #LIT gets rejected at the upper trend line of the wedge, we might see a retest of the major support zone around $0.5. This level has consistently provided strong support and is rich with liquidity.

Should #LITUSDT fail to bounce back from the $0.5 support, our eyes will be on the next critical level at $0.400 . Historically, this level has been a stronghold, and the probability of a rebound here is notably higher.

But remember, if #LIT breaks below these key support levels, the bears might take control, potentially leading to a bearish continuation.

#LITUSDT is showing promising signs of a potential bullish continuation from the key support level at $0.600. The recent price action, which saw a break above the descending resistance, has set the stage for a move upward. However, for this bullish momentum to hold, the price needs to remain steady at the support level, potentially setting the scene for a breakout above the internal resistance.

But we're not in full breakout mode just yet. For a confirmed move higher, a decisive break above the internal resistance at $0.820is crucial. This needs to be backed by strong engulfing candles and sustained upward momentum. Until these signals appear, it's wise to stay cautious and avoid jumping into trades prematurely.

#LITUSDT has been trading in a descending channel formation for most of 2024, steadily making lower highs and lower lows. However, recent price action suggests a potential shift in momentum, signaling an opportunity for the bulls to step in.

The demand zone between $0.600and $0.500 remains the critical level to monitor.