$LIGHT: Prepare for a Potential Crash 💥
Entry Short $LIGHT: Watch for rejection signals around $1.9957 or the 24h high at $1.9185. A break below $1.54 could trigger a deeper correction.
SL: 4-5% above entry.
TP Short: First target at $1.0194 (38% drop – back to MA20). 5-10% profit possible given current overbought conditions.
$LIGHT is experiencing extreme volatility. Exercise extreme caution! The risk of a price decline currently outweighs chasing further gains. Initial breakout candle exploded with 216M volume, but recent 1h candles show significantly reduced volume while price remains near the top – a classic divergence (higher high, weakening volume) indicating waning buying pressure. 📉
Funding rates show a massive net inflow into futures (+18M in 6H, +42M in 24H), largely concentrated in long positions. This overextended long positioning makes the market incredibly sensitive and vulnerable. Long positions are not recommended at current prices due to high counter-trend risk. Consider only after a deep pullback to $1.0194 or near MA20 for potential bounces.
#light #binancesquare #crypto #trade 🐻
