LIGHT is currently more talked about for the divergences than the drop.
LIGHT has dropped -15.86% in the past 24 hours, and the pullback is quite deep. Right now, the focus isn't on how much it's dropped, but whether the selling pressure is nearing its end. Current price is around 0.1199, with a 24h trading volume of approximately 12.5656 million, and the increased volume looks more like a panic sell-off concentrated release.
Reference indicators: The 30m RSI is currently at 24.21, which has entered the oversold zone. Here, we can't directly equate oversold with a reversal; what's more important is whether the RSI can turn upwards and if the price can reclaim the short-term moving average. The 30m super trend is at 0.123620, and since the current price is above this level, it suggests a continuation of the trend.
Bulls will be watching to see if the panic sentiment starts to recover; the cautious traders will be monitoring whether the trend support can be reclaimed. If these two points clash, the short term will likely be choppy.
There are two potential paths ahead: one is a recovery after the panic release, and the other is a volume-less pullback that continues to weaken. I'm not in a rush to draw conclusions; I'll wait for the next round of trades to provide answers.
#LIGHT #Alert
LIGHT has dropped -15.86% in the past 24 hours, and the pullback is quite deep. Right now, the focus isn't on how much it's dropped, but whether the selling pressure is nearing its end. Current price is around 0.1199, with a 24h trading volume of approximately 12.5656 million, and the increased volume looks more like a panic sell-off concentrated release.
Reference indicators: The 30m RSI is currently at 24.21, which has entered the oversold zone. Here, we can't directly equate oversold with a reversal; what's more important is whether the RSI can turn upwards and if the price can reclaim the short-term moving average. The 30m super trend is at 0.123620, and since the current price is above this level, it suggests a continuation of the trend.
Bulls will be watching to see if the panic sentiment starts to recover; the cautious traders will be monitoring whether the trend support can be reclaimed. If these two points clash, the short term will likely be choppy.
There are two potential paths ahead: one is a recovery after the panic release, and the other is a volume-less pullback that continues to weaken. I'm not in a rush to draw conclusions; I'll wait for the next round of trades to provide answers.
#LIGHT #Alert