LAYER/USDT Daily Market Insight – Sharp Reversal After Major Rally

Current Price: $1.2153

24h Change: +0.19%

24h High/Low: $1.3700 / $1.1716

24h Volume: 62.72M (LAYER), 77.89M (USDT)

Technical Overview:

After a significant uptrend that peaked at $3.4303, LAYER has undergone a sharp correction, now consolidating just above $1.21. This move has wiped out over 64% of the recent gains within a few sessions.

Moving Averages:

The MA(7) is currently at 1.8659, showing that the price is trading well below the short-term trend.

The MA(25) sits at 2.3148, confirming a strong bearish crossover.

RSI (6): 18.16 – Oversold territory, indicating that the market may be ripe for a short-term bounce or a relief rally.

Stochastic (K/D): K: 13.61, D: 29.12 – Another strong oversold signal.

Volume: A dramatic spike in volume was noted during the dump phase, suggesting panic selling or liquidation events.

Support & Resistance Levels:

Support: $1.1287 (recent local bottom), followed by psychological support near $1.00.

Resistance: $1.5200 (former support turned resistance) and $2.00 (psychological barrier).

Market Sentiment: The recent dump looks like a classic "blow-off top" followed by panic sell-off. RSI and stochastic indicators suggest oversold conditions, but caution is advised as the price action remains volatile and volume remains high, hinting at ongoing uncertainty.

LAYER is currently in a high-risk, high-volatility zone. While indicators point to a possible short-term bounce, the broader trend has shifted bearish after the sharp rejection from the $3.43 level. Traders should watch for confirmation signals and manage risk carefully.