$LAYER
Is This a Buy Opportunity For LAYER?
What Happened with Layer?
Join me let's go over the Solayer project and figure out the trading opportunities!
FA —
The Solayer (LAYER) token has been experiencing a dramatic price drop, plunging 37% in the last 24 hours due to concerns over a massive token unlock. Investors are bracing for 27.02 million tokens — worth around $52.41 million — to enter circulation, which has triggered a sell-off.
Additionally, Solayer crashed 45% recently due to liquidity shocks and whale sell-offs, wiping out nearly $350 million in market cap. The upcoming May 11 unlock of 26.5 million tokens is raising fears of further selling pressure unless sentiment improves.
Despite the downturn, some traders see this as a buying opportunity, hoping for a rebound if LAYER can reclaim key support levels. What do you think.
Will it bounce back, or is this the start of a deeper decline? Let's find out!
TA —
You can see already that decline is a triggered Price Action. In that case, we expect a Reaction.
In the 4-hr TF of the LAYERUSDT chart, the selling pressure is already weakened as shown in the RSI 14 + SMA 14 which shows an unnatural crossover. This means that a price correction is due.
The LAYERUSDT chart is massively oversold and opportunistic Traders see this as an opportunity to drive the price back up for gains!
This is your entry (as shown in the image), target around 2.5!
Remember, you're a trader... lock in profits when they come!
I'll still be here to drop updates!
Love ❤️ and Light 💡
©dgtlngel
