The following is Litentry (LIT) Technical Analysis 2023 for Crypto Traders, which is created by EarntheCrypto.com. EarntheCrypto.com is an independent website that aims to help new crypto investors by analyzing current market trends and providing crucial information for trading or investing in crypto.
Please do not trade the following information based on this analysis. EarntheCrypto.com is not responsible for your trading decisions.
The analyst at EarntheCrypto.com has found the following information based on their technical analysis on the LIT/BTC exchange.
As the name suggests, this will be a technical analysis of the Litentry (LIT) future for traders in the crypto currency world. The crypto currency market is evolving at an astonishing rate.
New digital currency tokens are being created every day, and the current market cap for crypto currency is in excess of $400 billion dollars. Digital currency is also becoming accepted in various aspects of our everyday lives. There are even merchants that accept crypto currency in the form of Bitcoin (BTC).
Everyone wants to make money, so why not try it with cryptocurrency? In this post, you will find a technical analysis of Litentry (LIT), a platform that allows users to buy and sell digital currency using cryptocurrency credit.
We utilize historical data, price analysis, RSI, RVOL, and other information about LIT to evaluate the cryptocurrency’s future movement in Technical Analysis of Litentry (LIT) for 2023.
The Litentry Network is a DID credit aggregation, validation, and calculation system developed on top of the Substrate platform. By combining DID standards into a modular identity service, it seeks to simplify the resolution process for separate DID methods. Users may use the Litentry mobile app to gather and maintain their decentralized IDs in one safe location.
Current Market Situation for Litentry (LIT)
At the time of writing, the LIT price was trading at $5.09, with a 24-hour trading volume of $37,009,837, according to Coingecko. LIT, on the other hand, has risen by 3% in the past 24 hours.
In addition, there are 27,732,686 LIT in circulation. LIT is now available for purchase on Binance, ZT, Gate.io, Pionex, and PancakeSwap (V2).
Litentry (LIT) Technical Analysis 2023
LIT may be pushed to new heights by current improvements and enhancements. Let’s take a closer look at the LIT technical analysis for 2023. Litentry (LITdaily )’s time frame chart is given below.
Double Top Pattern LIT/USDT (Source: Tradingview)
A double top pattern is a negative technical reversal pattern that develops when an asset makes two consecutive highs with a modest drop between them. When the price of an asset goes below the support level equivalent to the low between two prior highs, this is verified.
LIT, in particular, trades in a $5.6 range. If the price violates the trend line, it will fall to the $1.99 support level. Otherwise, it will test the $13.58 resistance level.
RSI for Litentry (LIT)
The relative strength index (RSI) of LIT is shown in the chart below.
RSI LIT (Source: TradingView)
The RSI is still at 56.42, as seen in the chart above. This indicates that the price of LIT is neither overbought nor oversold. This, on the other hand, demonstrates that merchants may trade without worry.
RVOL Litentry (LIT)
The Relative Volume of LIT is shown in the graph below. RVOL is a trading indicator that shows how current trading volume has changed over time when compared to previous trading volume.
RVOL LIT (Source: TradingView)
The RVOL of LIT is below the cutoff line in the preceding chart, indicating that it is one of the weaker players in the current trend.
Moving Average for Litentry (LIT)
The chart below depicts LIT’s Moving Average (MA). A moving average is a tool used in technical analysis to help traders spot trends.
MASTER OF LANGUAGE (Source: TradingView)
LIT is now on a bullish trend. The LIT price, on the other hand, is above the 50 MA (short-term) and has a good probability of going higher. Furthermore, the price of LIT is above the 50 MA and the 200 MA (long-term), indicating that it is fully bullish. Furthermore, a Trend reversal is a distinct potential at any moment.
Comparison between Litentry (LIT) vs Bitcoin
The price comparison between LIT and BTC is shown in the graph below.
Chart comparing the prices of LIT and BTC (Source: TradingView)
The trend of the BTC can be seen on the graphic, and LIT is moving in lockstep with the trend. This means that when the price of BTC rises or falls, the price of LIT rises or falls as well.
Conclusion
With the continuous improvements and enhancements to the LIT platform. Litentry has a bright future in the cryptocurrency industry. LIT, on the other hand, has the potential to soar to new heights.
LIT price forecast bullish for 2023 is $7. However, as previously said, if investors feel that LIT is a suitable investment in 2023, it may achieve tremendous heights, reaching $13.58.
FAQ
What exactly is LIT?
LIT is a decentralized mobile application and a network that supports the DID aggregation protocol. Litentry is its native token.
Where can you get your hands on LIT?
Binance, ZT, Gate.io, Pionex, and PancakeSwap are just a few of the cryptocurrency exchanges that have LIT listed (V2).
Will LIT soon hit a new ATH?
The LIT platform’s continuing improvements and enhancements have a good chance of achieving its ATH shortly.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
Crypto markets have been going crazy the past few weeks, and it’s getting harder and harder for us to predict price movements. But, no worries, we’re here to help you get a better understanding of what’s going on by showing you the Litentry (LIT) technical analysis for the year 2023.. Read more about litentry coin bureau and let us know what you think.
