📉 Leo Tolstoy on Lighter’s Fall: $2.30 Breakdown Speaks Volumes! 📉

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Once upon a market day, as Lighter’s price fell sharply, it broke a sacred support line beneath its rocky refuge, thus extending its plummet since its launch-ever so eloquently maintaining pressure from short-term traders, much like a drama in the snow-dusted fields of Russian winters.

The price of Lighter, akin to a dashing hero dismissive of propriety, tumbled 20% at the time of this recount, trading at $2.07, of which it had fallen 31% in a tumultuous week, resting comfortably 73% beneath its lofty peak of $7.86-a high it so briefly embraced soon after its debut on the thirty-first day of December. Over the past week, prices oscillated between $2.07 and $3.21, as if caught in a dance watched closely by concerned onlookers.

The trading arenas grew eerily still, as activity slumbered and volumes decreased by 64% to a mere $15 million. This decline whispered tales of demand departing as the price retreated from its old support. Yet, in the mysterious world of derivatives, a different tale unfolded; according to CoinGlass data, perpetual trading volume leaped up almost 118% to $21 million, while open interest rose boldly by 47% to $1.69 million. A sign, perhaps, that the players in this saga mostly basked in the brief fervor of short-term gains over the robust allure of long-term exposure.

Buybacks and Their Disappointing Performance

Lighter, a perpetual DEX on Ethereum‘s grand stage, began its journey offering zero-fee trading with much fanfare, following an impressive collection of $68 million from magnates like Founders Fund and Ribbit Capital, setting its valuation ceiling at an ambitious $1.5 billion. The LIT token entered the scene in late 2025, amidst this grand flourish.

As 2026 dawned, LIT briefly reached toward the heavens at around $2.89, largely by the purse strings of its treasury buyback program that graciously redirected 50% of protocol fees for repurchases. The subsequent rebound, however, was fanned deeply by whale wallets, only to fade swiftly as early pin-drop holders dispersed, and a cross-section of market currents whisked it off its course.

Lighter, in its quest for growth, introduced tokenized offerings like MSTR and CRCL and embraced multi-signature wallet support, lacing its platform with bonds of the future. Yet, these infrastructural refinements have not thus far altered that capricious mood of near-term sentiment.

Technical Analysis of Lighter Price

The 1-hour chart of Lighter depicts a narrative dark and bearish. Each attempt at a rally has faltered, systematically blocked by sterner forces, echoing the ceaseless predator-prey dance under the endless Russian sky.

Lighter's Market Chart

Traded beneath a now menacing 50-period moving average at $2.23, the price sees its attempts to reclaim this level thwarted, the pathway increasingly thorny. Bollinger Bands unfurl, expanding their grip as price draws near the lowest band, singing a tune of persistence in its downward fervor, rather than a hollow echo of exhaustion.

Momentum indicators, like famished shadows, whisper tales of weakness; the mighty RSI slumps near 28 in its oversold desperation. Despite the probability of a rebound, it has yet to grasp the 40-45 grasp, the bearish might still reigning supreme.

The prior sanctuary of $2.30-$2.35 is now but a memory, its integrity breached. Support now hangs frugally around $2.00-$2.05, where demand humbly aligns with the lower Bollinger Band. Should this, too, shatter, the market would tragically open further descent, much like a curtain call that unfolds unbidden.

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2026-01-13 08:24