$LAYER /USDT – Rising Wedge Breakdown Imminent? 🔻
Current Price: $1.4795 (-0.99%)
Despite a solid +2.79% day, price action is flashing weakness near $1.50 psychological resistance, showing rejection wicks and lower highs on the 15m.
Key Levels
• Resistance: $1.5000 / $1.5120
• Support: $1.4400 / $1.3950
Short Setup
• Entry Zone: $1.4800 – $1.4950
• Targets:
• TP1: $1.4400
• TP2: $1.3950
• TP3: $1.3430
• Stop Loss: $1.5150
Market Insight
Price is rising on lower momentum. The structure hints at a classic wedge distribution top, often followed by sharp pullbacks.
Pro Tip:
Confirmation comes on a 15m close below $1.47 with volume. Watch for a bearish engulfing or failed bounce setup.
Perfect R:R and psychological zone rejection in play.
Stay alert – quick downside scalps ahead!
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