$LAYER Trade Setup: Key Levels, Scenarios, and Strategic Plan

Current Market Overview

Price: $0.5959 (testing key support throughout the day)

24H Range: $0.5954–$0.6207 (3.8% volatility)

Trend Structure: Lower highs since rejection at $0.8467 → bearish bias unless $0.6200 is broken

Strategic Trading Plan

Signal: High-probability short setup (with a contingency for bulls)

Optimal Entry: $0.5930–$0.5980 (zone of weakness confirmation)

Stop-Loss: $0.6210 (above the recent swing high + 1% buffer)

Profit Targets:

TP1: $0.5730 (immediate support) → 3.4% potential drop

TP2: $0.5600 (liquidity zone for several weeks) → 6.5% potential drop

Bonus TP (if bearish momentum): $0.5400 (target of measured move)

Risk to Reward Ratio: 1:2.5+ (conservatively) / 1:4 (aggressively)

Why does this work?

Price respects the descending trend line + rejection at $0.6200

Volume profile shows weak bids near current levels (Binance spot trading data)