$LAYER 🧱📉 $LAYER/USDT - Sharp Bearish Breakdown - Oversold Bounce Likely!

⚠️⚠️⚠️ EXTREME CAUTION - POTENTIAL OVERSOLD BOUNCE! ⚠️⚠️⚠️

🔍 Current Observation:

Sharp and significant price decline after rejection at $3.4303$.

Break below key support at $2.1705$.

Price well below all key EMAs.

High volume on the drop.

EXTREMELY OVERSOLD RSI.

🚫 Avoid Trying to Hold Longs - Look for Short-Term Bounce.

🤔 Potential Scenarios (Cautious):

Strong Potential for a Dead Cat Bounce (High Risk but Probable).

Waiting for Sustained Consolidation for Longer Plays.

Looking for Clear Bullish Reversal Signals Eventually.

🔭 Key Levels to Watch:

Resistance: $2.3728$ (25 EMA), $2.1705$, $2.8811$, $3.4303$.

Support: Psychological levels ($1.50$, $1.20$, $1.00$).

📊 Technical Indicators:

EMAs: All acting as resistance (strong bearish).

RSI: EXTREMELY LOW (highly oversold - bounce probable).

⏳ Potential Very Short-Term Trade Plan (Aggressive - High Risk):

Speculative Long Entry: Around $1.5384$.

Extremely Tight Stop Loss: Below recent low (e.g., $1.50$).

Target 1 (Small Bounce): $1.70 - $1.80$.

Take Profits Quickly!

💭 Final Thoughts:

$LAYER$ in strong bearish breakdown and extremely oversold. Look for a potential short-term bounce, but trade with extreme caution and tight stops. Longer-term plays require waiting for more stabilization. Manage risk carefully! 🧱