Lighter rose 10.28% while the broader market fell 1.62% – Sygnum is why

Lighter [LIT] climbed 10.28% to $3.49 over the past 24 hours, gaining significantly more ground than the rest of the crypto market, which fell 1.62% during the same period.

The move appears to be coin-specific, as the token was recently listed on Swiss bank Sygnum, potentially supporting renewed interest in the token.

The bank reportedly added LIT for trading, custody, and lending, giving its clientele an easy way to access the token. This development could potentially make it easier for institutions to access the market and give holders more financial services, all without needing to sell their tokens.

At the same time, LIT’s trading volume went up by 24.43% to $85.7 million, showing more market activity.

LIT’s daily chart points to a broader recovery

At the time of writing, LIT was trading around $3.46, slightly above the 61.8% Fibonacci level at $3.4555 on the daily chart. This level could now act as support following the recent recovery from $2.59. A sustained move higher could bring the 78.6% level at $3.69 into focus.

The RSI stood at 54.22, remaining above the neutral 50 mark, while the OBV had recovered from its late-October lows. However, its recent dip indicated that buyers have yet to mirror the same level of strength as the recent price gains.

Can LIT maintain its momentum on the H4 chart?

The recovery seen on the daily timeframe was further reinforced on the H4 chart, with LIT having climbed above the 78.6% Fibonacci level. However, the shorter time frame also showed early signs of momentum starting to cool down as the price approached the $3.57 resistance level.

The RSI slipped to 59.88 after approaching the 60 region, while OBV dipped after a sharp increase during the rally. So, it suggests that buying pressure is stabilising.

If LIT holds above $3.45, the price could make another attempt at $3.57. Losing this area will expose the token to a pullback toward $3.29, which is the daily 50% Fibonacci level.

Final Summary

• LIT’s daily structure remains bullish, with its price holding above the 61.8% Fibonacci level.
• The rally could pause near $3.57, but holding $3.45 will be important for extending LIT’s recovery.