#TradeStories
Will it drop more than this drop or will it recover & in my opinion it will drop to $1 within the next 24 hours. Do you agree with my opinion or not? Please clarify the reason in the comments 👇 Do you think it will catch up with similar currencies like $OM ? The LAYER (Solayer) currency experienced a sharp decline after its launch, and here are the main reasons:
1. Wide Airdrop distribution: 120 million tokens (12% of the supply) were distributed, leading to significant sell pressure.
2. Pump & Dump pattern: The price reached $1.50 then collapsed to $0.20 due to rapid speculation.
3. Market volatility: The market was generally affected by regulatory and economic factors that impacted performance.
Current technical analysis:
Price: $1.33
RSI: 35.37 (near oversold)
Support: $0.80
Resistance: $0.85–$0.90
🔮 Predictions:
Short term (2025): $1.10 – $1.50
Long term (2030): It could reach $2.50 if the project succeeds
✅ Advice:
Short term: Beware of volatility, monitor support and resistance
Note: This is not investment advice – do your own analysis before buying or selling.