Lighter rebounds 10% to $1.53 after 20% drop, with $1.80 resistance in focus

Lighter [LIT] climbed 10.37% over the past 24 hours to trade near $1.53, recovering part of a sharp 20% correction from the $1.80 resistance zone that triggered heavy profit-taking earlier this month. The rebound coincided with renewed attention around Lighter's AI-related perpetual contract listings and its ongoing token buyback program, alongside a 20.83% increase in daily trading volume to $59.7 million. Despite the recovery, LIT remained below its previous high and was trading back within a key resistance area.

Price action traced higher lows after demand appeared near an ascending support trendline, with LIT recovering above the $1.3825 level and approaching the $1.5682 resistance zone — the nearest barrier before the larger $1.80 area. The relative strength index climbed to 59.20 after cooling from overheated conditions, indicating buyers had regained strength without pushing the market into overbought territory. The MACD remained above both its signal line and the zero line, although the histogram had begun to flatten, suggesting buying pressure had eased compared with the rally that preceded the rejection. A move above $1.5682 would open the way to another test of $1.80.

Exchange flow data also pointed to limited selling pressure. LIT recorded a Netflow of approximately -$390.62K on June 8, extending a broader trend of tokens leaving trading venues. Lighter's buyback activity has removed more than 14.47 million LIT tokens from circulation, contributing to tighter exchange supply than during the recent correction. In the derivatives market, the OI-Weighted Funding Rate stood at 0.0057%, keeping the metric in positive territory and indicating that long-position holders continued paying a premium to maintain exposure. Funding levels remained moderate, suggesting leverage had not reached excessive levels.