Looking at the 15-minute chart for $LIGHT, we are seeing some interesting technical movements that suggest a potential short-term bounce or "scalping" opportunity. After a significant downtrend, the price seems to have found a solid local bottom around the $0.1746 zone.
Key Technical Indicators:
EMA Crossover: The EMA(9) (Yellow) is currently attempting to cross above the EMA(21) (Purple). This bullish crossover often signals a shift in short-term momentum.
Volume Surge: We’ve noticed a significant spike in buying volume in the recent candles, indicating that buyers are stepping in at these discounted levels.
Support & Resistance: The asset has successfully defended the $0.1740 support. The immediate challenge is breaking through the $0.1849 resistance. If it clears this, we could see a quick run toward higher levels.
Trade Setup (Scalping Idea):
Entry Zone: $0.1810 - $0.1840
Target 1: $0.1925 (Immediate resistance)
Target 2: $0.2010 (Psychological level)
Stop Loss: $0.1730 (Below recent lows)