🔥 $LIT is the native utility token of Lighter, a new DEX Exchange, for those who don't know yet. It's in bullish consolidation phase that's got me watching closely. I'm thinking long for a momentum continuation.
On the volume side, those recent 4H candles are showing lower volume as it settles in, which is pretty standard for these continuation setups. The 24H volume sitting at 51.26M tells me there's still decent action going on.
Capital flows are interesting though: we're seeing net outflows across the board (24H at -3.99M, 7D at -33.71M). Feels like some profit-taking after that 7.3% pop recently, which could set up for a momentum shift if things turn.
Market-wise, $LIT price is hanging out between 2.449 and 2.827 after a wild volatility spike. From the 4H view, we've got higher lows building since that 2.413 bottom, which screams underlying strength to me. It's chilling near the Bollinger middle band, and the MACD histogram's looking positive, so yeah, upward lean here.
Long entries $LIT around 2.65-2.68 USDT in this current zone.
SL at 2.52 USDT (just under the recent low and Support level).
TPs: first at 2.91 USDT (+8.6%), then 3.11 USDT (+16.4%).
Word of caution: those outflows mean keep your position size in check – maybe scale in instead of going all at once. Watch for volume picking up over 2.70 to confirm the move. #Lit #LighterDEX #Litusdt