📉 Technical Analysis (1D timeframe)
$LIGHT is currently trading around $0.95, after a sharp rejection from ~$4.85, forming a long bearish candle — a classic blow-off top followed by aggressive profit-taking. Price is now well below the EMA(50) at ~$1.35, confirming a short-term bearish structure. The strong red volume spike on the dump suggests distribution rather than a healthy pullback.
🔑 Key Levels
Immediate Support: $0.88 – $0.95 (current demand zone)
Major Support: ~$0.78 (previous base)
Resistance: $1.13 → $1.35 (EMA50)
Major Resistance: $2.10 – $2.50 (prior rejection zone)
📊 Momentum & Structure
Trend has shifted bearish short-term after failing to hold higher highs
Any bounce below EMA(50) is likely a relief bounce, not trend reversal
Volume confirms panic selling, so volatility remains high
🧠 Trader Insight
This is currently a high-risk, high-volatility zone. Bulls need a daily close back above $1.35 to regain momentum. Failure to hold $0.88 could open deeper retracements. Best suited for **experienced traders using strict risk management, not for chasing moves.
⚠️ Not financial advice — purely technical chart analysis.
