LIT/ETH Daily time frame

  • LIT is in a downtrend: Price action is making lower highs and lower lows.
  • LIT broke lowest price: New price discovery
  • Bearish break of the RSI trend line

CHX/USD Weekly time frame

  • After a big run up from October 8th to February 18th CHX gained over 1800%.
  • Own retraced from highs of February 18th ($0.34) to the weekly and 0.618 Fibonacci support line at $0.14.
  • At support buy pressure came in. The weekly candle started making a bullish engulfing pattern, which is a very bullish sign at support.
  • Price is now back above the vertical trend line and the 0.382 Fibonacci level, RSI is also above an important trend line.

Possible scenarios

  • Price stays above the vertical trend line and break the next resistance.
  • Price hovers between support and resistance for a while.