Lighter plunges 12% – $2.9M in long liquidations trigger panic exits

Lighter's [LIT] attempted bullish reversal collapsed after broader market sentiment turned bearish. In fact, Lighter faced rejection at $3.99, dropped to a low of $3.22, and then slightly rebounded. As of this writing, Lighter was trading around $3.4, marking a 12% drop on the daily charts and extending its week-long bearish structure. Over the same period, the altcoin's trading volume jumped 45%, suggesting increased activity as traders reduced exposure. Lighter's $2.9 million in long liquidation triggers panic exit LIT's price drop triggered a wave of long liquidations.

Source: AMBCrypto