🐻 $LIGHT Bearish with Short-Term Rebound Potential
Overall trend is clearly bearish, but we’ve seen that 6.5% bounce in the last 24h with 418M USDT volume, which does show some real buying interest. That said, when I zoom into the 4H volume, it’s dropping off every time we try to rally—feels like a classic weak pump that won’t hold.
Capital flow is the real red flag: consistent outflows across all timeframes. -16.6M USDT in 24h and -45M USDT over 72h. That kind of money leaving screams institutional distribution and zero confidence in any sustained recovery.
Price action today $LIGHT ? Daily candle got rejected hard at 0.647 resistance, forming a textbook bearish pin bar. Distance to the daily high was 13.4% vs 11.45% to the low—sellers still have the upper hand.
*My Trading Take : Cautious short
- Ideal short entry: around resistance 0.6350–0.6450 USDT
- Backup plan: wait for breakdown below 0.5050 with solid confirmation
- Stop Loss: ~0.6670 for shorts (ATR is high at 0.553 so volatility is wild, don’t get stopped out easily)
- Targets:
- Primary: 0.5050
- Secondary: 0.465
*Risk warning: KDJ is extremely oversold and Bollinger Bands are squeezed tight—could explode either way. If we close $LIGHT daily above 0.647, the bearish setup is dead and we might see a quick reversal up to 0.675–0.700. I’m leaning short right now!
#light #LIGHTUSDT #bitlight