this is a scam project that inflated the price and then robbed everyone
PhantomDark
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Technical Analysis of Token $LAYER
The token ($LAYER ) entered a strong downtrend after reaching its all-time high of $3.41 on May 5. Currently, the price is at $1.19, a drop of over 65%.
Support at $1.25 has been lost, paving the way for a new drop to $0.65.
Indicators such as #RSI and #MACD confirm the weakness: RSI below 50 and a bearish cross on the MACD.
A 13% unlock of the total supply occurs on May 11, with significant inflationary impact.
A whale may have anticipated the drop with large short positions.
Possible Scenarios:
Rise (30%): Recovery above $1.25 with strong volume.
Drop (70%): Continuation down to $0.65 with selling pressure.
Attention #traders: the moment is one of caution. The main trend is bearish as the market digests the impact of the token unlock.
