$LIGHT – What Just Happened?
LIGHT printed a classic blowoff top.Price exploded from the $0.80–$1.00 base all the way to $4.6+, driven by low liquidity and aggressive leverage. This kind of vertical move is unsustainable and the market proved it fast.After the peak, a single heavy sell-off candle erased almost the entire rally, sending price back to the origin of the move near $1.00.That’s a full round trip, trapping late buyers and confirming distribution at the top.
Key observations:
• Massive volume spike which causes panic selling & liquidations
• Momentum completely exhausted
• Short-term trend flipped bearish
Levels to watch:
• Support: $0.85 – $0.90, then $0.75 – $0.80
• Resistance: $1.30 – $1.50, major supply above $2.00
Outlook: This is no longer a momentum play. Expect high volatility, consolidation, or a slow bleed rather than an immediate recovery.
⚠️Chasing pumps like this usually ends the same way.