$LIGHT
is trying to turn the lights back on! ๐ก
Up 11% today with strong volumeโlooks like buyers are stepping in after a rough patch. The chart is setting up for a potential bounce, but itโs not out of the woods yet.
Hereโs what Iโm seeing:
ยท Oversold Bounce? Price is trying to recover from recent lows, and the RSI is neutral at 46, giving it room to run.
ยท Key Resistance Ahead: The EMA(7) at 0.805 is the first big hurdle. If LIGHT can break that, things could get interesting.
ยท Volume Support: Good volume today, but still below the 5-day average. We need more buyers to confirm the move.
๐ฏ Trade Idea (Swing Long - Cautious Optimism)
Looking for a push toward resistance, but with tight risk management.
ยท Entry Zone: 0.695 - 0.710 (Already in the move, or on a slight pullback)
ยท Stop-Loss: 0.650 (Below todayโs low and recent support)
ยท Target: 0.800 (EMA 7 resistance and a round-number level)
โ๏ธ Risk-Reward Ratio: ~1:2 (Risking ~0.055 to make ~0.10)
Trade smartโwait for confirmation and always use a stop!
#LIGHT #USDT #Trading #Crypto #SwingTrade
#BouncePlay $LIGHT