$LIGHT (LIGHTUSDT) has recently reached a short positions Get Liquidated scale of 10 million in the last 24 hours, with market sentiment clearly shifting. Based on the low point triggered at 2.6 last night, the arbitrage space for increasing the position of short positions has significantly compressed at the current stage.

According to on-chain and contract data, the price is expected to operate in the range of 4.5-5 in the short term. However, it is important to note that once long positions accumulate to a sufficient scale in this range, the market is likely to repeat the spike and pullback rhythm — at this time, long positions need to manage risks and avoid greed.

From a trader's perspective, the current short positions lack much motivation to increase the position, as large short orders can easily trigger a liquidation chain reaction. This suggests that there may be self-reinforcing selling pressure in the future. It is recommended to pay attention to trading volume and changes in holdings, as these will directly influence the next direction choice.