Lighter (LIT) price approaches resistance level of $1.80

The Lighter (LIT) price is holding up well and continues to press against a key resistance level around $1.80. Analysts are monitoring the situation, as a breakout above this level could trigger a strong impulsive move upward.

Lighter is available on OKX and Bybit.

LIT tests resistance at $1.80

On the 12-hour chart of LIT/USDT, it is clearly visible that the price has been struggling with the $1.80 level for some time. This level acts as a local resistance that holds the price back. At the time of writing, LIT is trading around $1,72. indicating that the market is still exerting pressure on this level without definitively breaking through.

A cup pattern is also visible on the chart, a technical formation that is typically seen as bullish. The price previously dropped sharply, formed a bottom, and is now moving back towards the resistance zone. This increases the likelihood of a breakout if buyers manage to gather sufficient strength.

Potential breakout in sight

Analyst AltCryptoGems states that resistance remains resistance until it is broken. However, he indicates that traders should pay close attention, as a potential breakout above $1.80 could lead to a rapid and strong price movement.

It is therefore a situation of waiting and watching. If buying pressure persists and volume increases, there is a real chance that LIT will leave the $1.80 resistance behind and move to higher levels. Until then, the level remains an important indicator for the short-term direction of the price.