๐ 1. Technical Indicators
Resistance Breakout: If LAYER broke above a strong resistance level, it can trigger a surge in buying interest.
Volume Spike: Increased trading volume shows higher market participation, which often supports a bullish move.
RSI & MACD: RSI in the 50โ70 range and a MACD bullish crossover suggest strong momentum.
๐ 2. Project Developments
New AVS Launches: Adding new Actively Validated Services (AVSs) on Solayer can attract more usage and staking.
Strategic Partnerships: Announcements of new integrations or collaborations increase market confidence.
๐ 3. Market Sentiment
Social Media Hype: Buzz on Twitter, Reddit, etc., can fuel FOMO (fear of missing out).
Influencer Support: If key crypto influencers mention or support LAYER, it can cause a rapid price increase.
๐ 4. On-Chain Data
Rising TVL: An increase in Total Value Locked (TVL) shows growing user trust and protocol usage.
More Active Wallets: A higher number of active wallets means increasing adoption.
๐ 5. Tokenomics
Limited Supply: If the token supply is scarce and demand increases, the price can rise quickly.
Staking Rewards: Attractive staking incentives encourage users to hold the token instead of selling.
