LIT buybacks dey tighten supply; price dey eye $1 and $1.30
Lighter (LIT) jump 11.31% to $0.8818 as total LIT buybacks don reach 9.55M tokens (from 7.48M earlier for March). The latest gist show say the buyback program dey soak up nearly 4% of circulating supply, making short-term selling supply tight. Buyback activity sef don become more efficient, with recent buys around $0.80–$0.95 and reported weekly pace of 606K+ LIT.
Price action better after LIT respect the $0.80 support area and the lower boundary of one descending channel. Momentum dey steady, and LIT dey try enter back into the channel. Traders’ key upside levels na $1.00 first, then $1.30 where e don get prior rejections.
Derivatives data don turn supportive versus earlier sell pressure: open interest rise 33.62% to about $143M, and funding still positive (OI-weighted funding rate ~0.0050%). This show say leveraged participation dey increase instead of positions fully unwind. Main invalidation level remain $0.80—if e fail again, the rebound thesis go weaken.
Bullish
LIT buybacks dey tighten di circulating supply, an di latest efficiency (buybacks near $0.80–$0.95) dey show sey tokens dey comot from di market faster during di rebound try. Importantly, derivatives signals don flip to supportive: open interest dey rise while funding dey positive, weh normally align wit stabilizing or improving sentiment rather dan capitulation.
However, earlier context still matter: prior summaries highlight weaker protocol revenue an bearish technical momentum. Dat mean di bullish setup dey conditional. Traders suppose focus on whether LIT hold di $0.80 support; clean reclaim of di channel an movement toward $1.00 go validate di turnaround. If e fail for $0.80 e likely go re-activate downside pressure toward lower supports.