For the current technical analysis:
Strong breakout: The price broke through the sideways range (around 3.70) with a long green "Marubozu" candle, reflecting complete control by buyers.
Current resistance: The price is facing resistance at the last peak reached today, which is 4.1023.
Indicators:
RSI: Approaching the overbought zone (above 68), indicating momentum, but we may need a slight correction or fluctuation before continuing the rise.
MACD: Has started to cross positively above the zero line, which is a good indicator for the continuation of upward momentum.
Upcoming targets (bullish scenario):
If the price successfully closes and stabilizes above the 4.10 level, the expected targets are:
First target: 4.25 (psychological level and nearby resistance).
Second target: 4.50 (expected profit-taking area).
Long-term target: 5.00 (if high liquidity and momentum continue).#Lightdefi $LIGHT
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