Lighter (LIT) Corrects Around 10% Amid Whale Activity and Technical Breakdown

Lighter (LIT) experienced a sharp correction of around 9-10% over the last day, mainly due to an overextended rally cooling off and technical breakdown in a choppy altcoin market.

The token's price recently topped at $5.30 before stalling, with some analysts noting that the current drop 'looks more like the market cooling after a major run than a confirmed trend reversal.'

One key level to watch is $4.10, with a re-break above $5.00-$5.15 needed to resume breakout conditions.

The correction can be attributed to whale activity and technical breakdown, as a prominent on-chain watcher flagged that a single whale deposited 602,200 LIT to centralized exchanges before the drop.