Lighter reclaims KEY support as LIT longs go 2-to-1 cocky, funding stays polite

Lighter [LIT] climbed 11.16% over the past 24 hours to $2.09 at press time, with 24-hour trading volume jumping 98.45% to $168.3 million as buyers defended the $2.00 psychological level. The simultaneous increase in price and volume indicated fresh participation during the move rather than a fade after the initial leg up.

Binance derivatives data showed a heavily skewed bullish stance. Top trader accounts held 67.96% of positions on the long side against 32.04% short, producing a Long/Short Ratio of 2.12. The ratio had briefly approached 2.30 during the advance and remained elevated, though crowded long positioning continued to carry elevated liquidation risk if volatility accelerates.

The OI-Weighted Funding Rate stayed positive throughout the rally and stood near 0.005% as of writing, down from earlier spikes above 0.025%. The shift indicated leveraged longs trimmed some exposure without flipping bearish, and funding never crossed into negative territory.

LIT broke decisively above $2.03 resistance and held above the ascending trendline that has guided the rally since late May, keeping the broader uptrend intact. The Relative Strength Index rose to 68.53 against a moving average of 58.19, approaching but not yet entering overbought territory at the 70 threshold. The next major resistance sat near $2.50, with $2.03 now serving as the first support. A loss of $2.03 would expose the trendline and could open a deeper pullback toward $1.85.