📉 $LIGHT Parabolic Move! | Is it Time for a Short? ⚠️
Market Analysis:
$LIGHT is printing a massive vertical move right now, gaining over +5.76% in a very short time. While the momentum is strong, the price is approaching a "heavy overbought" zone. Historically, moves this fast often lead to a sharp "flush" or a technical correction as traders start to take their profits.
Why I’m looking for a SELL/SHORT entry:
Vertical Climb: The price has moved too far from its moving averages. A "mean reversion" (return to average) is highly likely.
Resistance Zone: We are approaching the 0.6550 - 0.6600 psychological resistance. Looking at the order book, sell walls are starting to build up.
Exhaustion Gap: The volume spike is huge, which sometimes signals a "buying climax" before a temporary drop.
My Trading Setup (Short):
Entry Area: 0.6513 - 0.6535 📉
Target 1: 0.6200 (First Support) 🎯
Target 2: 0.5950 (Major Retracement Level) 🔥
Stop Loss: 0.7300 (Above the recent spike) 🛡️
Warning:
Shorting a strong uptrend is risky. Use Low Leverage and always wait for a red candle on the 5-minute chart to confirm the rejection before entering.
👇 Click the $LIGHT
tag below to protect your gains or open a SHORT position!