$LAYER /USDT Showing Sideways Movement with Potential for Downside
Hey everyone,
Let's take a look at the $LAYER chart. The current price of Layer is at $3.0288, showing a slight decrease of -1.45% today.
Looking at the last 24 hours, LAYER ranged from a Low of $2.8654 to a High of $3.0965. The 24h Volume stands at 8.29M LAYER, which is equivalent to 24.76M in USDT.
The chart indicates that LAYER has been trading in a relatively sideways range recently. However, the Parabolic SAR indicator (the yellow dots) has flipped above the price candles, which can often be interpreted as a signal of potential downward pressure. The price is currently near the upper end of the recent range but below the 24-hour high.
Traders might be watching to see if the Parabolic SAR signal holds and if LAYER breaks below the recent support levels. A sustained move below the $2.86 level could indicate further bearish momentum. On the upside, breaking above the $3.10 level would be needed to negate the bearish signal.
Key points to observe:
Resistance: The 24-hour high of $3.0965 is the immediate resistance to watch.
Support: The 24-hour low of $2.8654 is the key support level.
Indicator: The Parabolic SAR currently suggests potential downward pressure.
What are your thoughts on Layer's current movement? Do you anticipate a break below the recent support, or do you see a potential for a bounce back up? Share your analysis!
