Fryer Alert! $LIGHT is now the most pretentious fake tough guy in the cryptocurrency market! The 4-hour chart looks crazy with soaring prices, but in reality, it’s already so weak that it’s about to collapse!
Currently, LIGHT looks very glorious: a clearly bullish pattern, with higher highs and higher lows in the rising channel, the upward momentum is absurd, but the hidden dangers inside can no longer be concealed. When the price hit a new high, the MACD directly created a top divergence, and the momentum for rising is quickly exhausting!
The RSI has already surged into the extremely overbought zone, rising rapidly and fiercely, having exhausted the upward space, with an 80% probability of a correction or sideways consolidation in the short term. The ROC indicator also confirms this; the current upward momentum has no new driving force, relying solely on inertia to slide forward, just like a car running out of gas, it can't slide much further.
The upcoming market will have three possible scenarios, clearly laid out for everyone:
Firstly: the price will stop around 2.70, starting a wide-ranging fluctuation, slowly exhausting the bullish strength and forming a top;
Secondly: buying pressure will directly exhaust, the price will break the rising trend line with increased volume, resulting in a rapid profit-taking correction;
Thirdly: relying on the market's exuberant emotions to continue rising, unless there is significant positive news to support it, otherwise, don’t even think about it.
In terms of operations, here’s the most practical advice for everyone:
For those holding positions, reduce holdings at high points to secure profits, don't be greedy for the last bit; for those with no positions, don't chase the highs recklessly, the most reliable approach is to exit and observe.
Wait for the price to correct to key support levels, simultaneously with the RSI falling back to the 50-60 range, and volume shrinking to show stabilization signals, then buy in batches at low prices, with controllable risk;
If the price effectively breaks below the rising trend line, and the MACD confirms a high position death cross, then lightly short and set the stop loss above the previous high.
In short, LIGHT is currently at a critical point where it can't rise further, don’t blindly chase high prices, and don’t rush to short. The market never lacks opportunities, don’t lose your capital due to impulse. Pay attention to Da Mao, 聊天室, Da Mao will help you break the information gap, squat at precise points in advance, and help you steadily reap big profits! #巨鲸动向 #代币化热潮 $LIGHT $ETH
