$LAYER Price Breakdown – Extreme Volatility After Parabolic Run❗$LAYER has sharply dropped by over 60% in just two days, falling from a high of $3.43 to a low of $1.26, now trading around $1.3087. This follows a strong multi-week rally, suggesting the recent drop is likely a result of profit-taking, liquidation events, or sudden market news.
Key Observations:
Daily Drop: -29.07% in the last 24 hours
Volume Surge: High volume (~$92M) confirms panic selling or mass exits
Support Zone: Holding near $1.26–$1.30, a potential short-term floor
No Confirmed Reversal Yet: Candles remain weak with no bullish engulfing or volume spike
Outlook:
At this stage, the market is trying to find support. If price stabilizes above $1.26 and volume shifts bullish, a short-term bounce could occur. However, without confirmation, risk remains elevated.
Caution is advised. Wait for a clear reversal signal or a strong reclaim of former support zones before considering re-entry.