🚨 $LIGHT is straight-up bearish, no sugarcoating it.
Volume tells the story: That massive spike (over 812M) happened right on the crash day, which screams aggressive selling. Now we're seeing super low volume on the latest candles (just 18k on the most recent one). No buyers stepping in at these levels – feels like everyone's waiting for the next leg down or just sitting on their hands.
Capital flow is even uglier: Contracts are bleeding out hard. -4M in 1h, -10M in 4h, and a whopping -21M in 24h. That's serious money fleeing the futures market – traders are running for the hills, and it lines up perfectly with the price getting wrecked.
My take $LIGHT : Firmly bearish, leaning towards shorts.
The smart play is waiting for a bounce to better levels – maybe up to the MA5 (~0.918) or even a retest of the 24h high (1.16) if it gets that far. Jumping in short right now after a -30% drop is risky; could get squeezed hard on a quick rebound.
Stop-loss:n Gotta place it above solid resistance. Shorting near 0.92? Stop around 0.98 (~6.5%).
Targets $LIGHT : Next real support is the 24h low at 0.5215 – that'd be a 43%+ move from 0.92. More conservative: Aim for 0.58-0.59 retest for a solid 35-40% profit with less greed.
**Quick warning:** High vol means this can whip around fast. If it somehow holds and starts climbing, don't fight the tape.