$LIGHT Technical Update
LIGHT saw a strong volatility spike in the last 24 hours.A sharp bullish impulse followed by heavy profit booking. Price is now stabilizing near the 0.70 zone, signaling a phase of consolidation after the dump.
Key Observations:
• Price is trading below major moving averages, turning them into dynamic resistance
• Strong sell-off confirmed by high volume, followed by declining volume , market indecision
• RSI dropped from overbought to near 30 and is now recovering slowly, still below 50
Support Zones:
• 0.68 – 0.70 (current base)
• 0.62 – 0.65
• 0.52 (major support)
Resistance Zones:
• 0.75 – 0.78
• 0.86 – 0.88 (key MA resistance)
Outlook:
• Holding above 0.68 may allow a bounce toward 0.75–0.78
• A breakdown below 0.68 could open downside toward 0.62
• Expect volatility — wait for clear breakout or breakdown confirmation
⚠️ Not financial advice. Trade with proper risk management.
#light