Lighter (LIT) Gains Momentum as it Targets Key Resistance

Lighter (LIT) has seen a significant resurgence in buying interest, characterized by a 7.34% price increase and a massive 50.25% surge in daily trading volume. The token is currently navigating a well-defined ascending channel, maintaining a market capitalization of approximately $422.66 million while holding firm above the $1.50 support level.

Technical Structure and the $1.74 Supply Zone

The current price action of LIT is focused on a critical supply zone at $1.74, an area where previous rallies have stalled due to persistent selling pressure. Despite these rejections, the asset has maintained a bullish structure by forming a series of higher lows, reflecting sustained demand from buyers who are successfully defending key support levels. If LIT can reclaim the $1.74 mark with consistent volume, the next major objective for the rally is the $2.00 psychological resistance level.

Indicator Analysis and Liquidity Clusters

Technical indicators are beginning to align with the bullish sentiment as selling pressure continues to fade. While the MACD line is still seeking a definitive bullish crossover, the narrowing histogram suggests that bearish momentum is exhausted, and the ADX indicates that the prevailing uptrend retains healthy strength. Liquidation heatmaps further support the potential for volatility, showing dense liquidity clusters between $1.70 and $1.75. A move into this range could trigger a chain reaction of liquidations, providing the necessary fuel to propel the price toward its higher targets.