🔴 LIGHT: Rejection or a Shakeout Before the Crash?
The market is buzzing as $LIGHT tries to fight back from its recent all-time low. While the bulls are celebrating a small bounce, the technical indicators are starting to tell a different, more dangerous story for those holding long positions.
The Analysis:
Current data shows that while the price has increased by roughly 17% in the last 24 hours, it follows a massive 16% decline over the past week. On the 1-hour and 4-hour charts, we are approaching a "Death Cross" territory where short-term moving averages are struggling to stay above long-term ones. The RSI is currently pushing into the overbought zone on smaller timeframes, which historically leads to a sharp "liquidity grab" or a dump to trap late buyers.
Strategy Guide:
The Short Case: If the price hits the immediate overhead resistance and fails to close a 4-hour candle above it, this is a prime "Short Light" opportunity.
The Trap: Watch for a fake breakout. If the volume doesn't support the move up, the "God Flywheel" might just be a spinning top before a drop.
The Bottom Line: Don't FOMO into the relief bounce. Past patterns show that coins with low circulating supply (only 54%) can be highly manipulated by whales before a final flush.
Wait for the red candle confirmation. In this market, patience is the only way to avoid becoming someone else's exit liquidity.
Other Trending Assets to Watch:
$LDO $LIGHT #TrumpFamilyCrypto #BTCVSGOLD #BinanceAlphaAlert #WriteToEarnUpgrade #USNonFarmPayrollReport
$ADA
