🚨 $LIGHT has been on a wild uptrend, but looks like it's starting to pull back from those crazy highs.
On the volume side, the K-line chart shows massive action during that big surge upward, like over 216 million on one candle, and the next one was pretty heavy too. But the latest 1-hour candle? Volume dropped way off to just 861k, which feels like the buyers are running out of steam up here. Classic setup for a possible reversal or top.
Looking at the capital flows for contracts, it's interesting. We've got solid inflows in the short term – 4.4M in 1H, 9.3M in 2H, and about 9M in 4H – that screams a ton of leverage piling into longs. But zoom in to 5m and 15m, it's kinda messy with +30k and -54k, hinting at some wobbling and maybe folks cashing out profits. And over the longer haul like 3D, 5D, 7D? Big outflows, so this spike might just be a quick pump in a bigger sell-off phase.
Overall take: I'm leaning cautiously bearish $LIGHT for a short-term dip, with a short bias. You've got RSI screaming overbought, price way outside the Bollinger Bands, funding rates super positive, and volume fading at peaks – that's a solid combo for a short opportunity. But those longer inflows mean dips could get bought up quick, so this is more of a counter-trend thing, not fighting the big picture.
For entry, I'd wait for a failed push back to the 24H high around 1.17, or if it cracks below that support near 1.0000 (from the last candle's low). If you're feeling bold, jump in now at current levels.
Stop loss wise, set it just above 1.18 USDT – that's about 5.6% risk from here, but with this volatility, you need some room to breathe.
Targets :$LIGHT Aim for that key support at 0.5336 (S1) for a big win, like 50%+ potential. Or play it safe and take profits at the 1.0000 psych level for around 10%.
Anyone else seeing this setup?
#light #LIGHTUSDT #bitlight