🚀 $LIGHT Analysis: Hype or Reality? What’s the Next Move?
Yesterday, $LIGHT (Bitlight Labs) took the market by storm, but is the momentum fading? Looking at the charts, the situation is getting very interesting! 👇
🔍 Current Situation:
Post-Pump Correction: After yesterday’s massive rally, the price is now in a consolidation phase around $0.68.
Indicators: The RSI (6) is currently at 36, signaling that the initial FOMO has cooled down and sellers are gaining control in the short term.
Support Zone: Our key support level is at $0.64. If the price manages to hold and bounce from here, we might see another bullish leg.
⚠️ Warning: The FDV ($286M) is significantly higher than the current Market Cap. This suggests potential supply pressure in the long run that investors should keep an eye on.
💡 My Strategy:
Avoid blind entries at current levels! Let the price settle around the $0.64 - $0.65 support zone. If this support breaks, we could see a deeper correction.
What’s your take? Will $LIGHT moon from here or return to its base? 🧐💬