Lighter jumps 11% - But 2 major factors stand in LITs place
Lighter, the perpetual DEX protocol, saw its native token LIT surge 11% in the past day as market sentiment shifted in favor of the bulls. Indicator analysis and chart patterns point to further upside, though obstacles remain above the current price that could slow the rally if momentum fades. Golden Cross and MFI confirm bullish momentum Lighters [LIT] rally follows a bullish crossover pattern known as the Golden Cross, as the Moving Average Convergence Divergence indicator sees its MACD line cross above the 9-day signal line. This pattern typically precedes a strengthening rally, with momentum tracked through price action and growing histogram bars on the chart. Source: TradingView Alongside this, the Money Flow Index, which tracks the inflow and outflow of capital from an asset, has surged into bullish territory with a reading of 56. Any reading between 50 and 80 sits within the bullish zone. A slight decline in the MFI from its recent high points to some profit-taking activity, but the overall reading confirms the market remains in bullish condition. Resistance above price has turned back LIT three times The path upward, while largely bullish, still carries a significant obstacle that AMBCryptos analysis has identified above current price levels. LIT is heading toward an upper resistance level