$LIGHT (Bitlight Labs) 📉 Market Update – Clean & Simple
#LIGHT # is currently trading at $1.363, down -8.65%, showing renewed selling pressure after a pullback.
Market Structure:
Price is still above MA(7) and MA(25), which suggests short-term structure is holding. However, price is far below MA(99), confirming the broader trend remains bearish.
Support Zone:
1.30 – 1.20
Resistance Zone:
1.50 – 1.68
Trend Outlook:
As long as price stays above 1.20, short-term stability is possible. A rejection below this level could trigger further downside. For upside continuation, LIGHT must reclaim and hold above 1.50 with volume.
Conclusion:
LIGHT is in a corrective phase within a larger downtrend. Best approach is to wait for either strong support confirmation or a clean breakout above resistance before taking fresh positions.
