$LIT It seems that after a hot rally, the price needs more liquidity to sustain the upward momentum.
It was rejected at VAH (4hema50) and then at POC. The current price action is heading toward a very strong confluence zone:
Pocket + 4hema200 + VAL + trendline
If a daily candle closes below this area, the price will likely drop back under $1.
One small thing worth noting: as the price returns to this confluence zone, it is also gradually forming a Head and Shoulders pattern.
However, given the current market condition, the probability of a bullish bounce from this zone is still higher.
