$LIGHT USDT (perpetual futures on Binance) shows a strong correction! The price is now at 0.3032 USDT, falling -13.91% in the last 24 hours after reaching a high of 0.3789. We saw strong selling pressure, with the candle dropping sharply from recent levels.
Key indicators are flashing potential reversal signals:
Bollinger Bands are compressed and the price is hugging the lower band (DN ~0.2778), often a sign of oversold conditions and a possible rebound.
RSI(14) at 38.51 โ diving into oversold territory, not extreme yet, but leaning towards recovery.
Stochastic (K21.8, D19.7) showing potential oversold crossover.
This looks like a classic buy setup on the daily/4H chart after the drop. Momentum can change if buyers defend this zone around the support of 0.2742โ0.2929.
TRADING IDEA โ LONG $LIGHTUSDT Now!
Entry: around the current ~0.3032 (or on rebound confirmation)
Take Profit 1: 0.3400 (+12%)
Take Profit 2: 0.3789 (previous high of 24h, +25%)
Stop Loss: 0.2740 (below recent low/support, risk ~9-10%)
High volume on the drop (56M LIGHT / 18M+ USDT) suggests accumulation may be underway. Don't miss the rebound โ crypto moves fast!
Trade $LIGHTUSDT / USDT Now on Binance Futures! Follow & activate ๐ for more setups โ
DYOR & manage risk!
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