$LIT 📉 just got rejected hard!
Lighter pushed toward $5.50 following Bitwise’s launch of the Lighter Staking ETP, but the breakout couldn’t hold. Sellers stepped in aggressively, sending LIT back below the key $5 level.
The result? An 11.2% daily drop, with price trading around $4.87.
The chart is starting to show cracks too. LIT slipped below its 9-day moving average, while MACD printed a bearish crossover — signs that the short-term momentum is cooling after a massive 60%+ monthly rally.
But here’s the interesting part 👀
Around 46% of circulating LIT is reportedly staked, while more than 6% has been repurchased. That could reduce available supply over time.
However, Bitwise’s new ETP hasn’t started staking yet. Staking is expected only after the product reaches sufficient AUM, meaning the potential supply-demand catalyst isn’t fully active yet.
Now watch the levels:
🔥 $5.00 — reclaim = bulls regain control
🎯 $5.40 — next resistance
⚠️ $4.60 — key MA support
💥 $4.00 — downside level if $4.60 breaks
LIT is at a critical decision zone. The next reaction around $4.60–$5 could reveal whether this is simply profit-taking or the start of a deeper correction.
#lit
Lighter pushed toward $5.50 following Bitwise’s launch of the Lighter Staking ETP, but the breakout couldn’t hold. Sellers stepped in aggressively, sending LIT back below the key $5 level.
The result? An 11.2% daily drop, with price trading around $4.87.
The chart is starting to show cracks too. LIT slipped below its 9-day moving average, while MACD printed a bearish crossover — signs that the short-term momentum is cooling after a massive 60%+ monthly rally.
But here’s the interesting part 👀
Around 46% of circulating LIT is reportedly staked, while more than 6% has been repurchased. That could reduce available supply over time.
However, Bitwise’s new ETP hasn’t started staking yet. Staking is expected only after the product reaches sufficient AUM, meaning the potential supply-demand catalyst isn’t fully active yet.
Now watch the levels:
🔥 $5.00 — reclaim = bulls regain control
🎯 $5.40 — next resistance
⚠️ $4.60 — key MA support
💥 $4.00 — downside level if $4.60 breaks
LIT is at a critical decision zone. The next reaction around $4.60–$5 could reveal whether this is simply profit-taking or the start of a deeper correction.
#lit
