Over the last 24 hours, the overall cryptocurrency market has grown by 1.95%, Bitcoin's dominance has slightly decreased to 58.5%. The Fear and Greed Index is at 45 (neutral), creating conditions for selective recovery of altcoins.
The growth of $LAYER coincides with the overall market stabilization after recent losses, but its lagging behind the 30-day market return (+0.63%) indicates ongoing risks related to the specific project.
The 7-day RSI reached 25.19 on August 18, indicating strong oversold conditions, while the MACD histogram shows a slowdown in the downtrend (-0.00435 compared to the previous -0.006). The price bounced from the level of $0.547 (around the 78.6% Fibonacci retracement level) to $0.565.
Traders often view RSI oversold conditions as a buy signal, especially if the downward momentum is slowing. However, $LAYER is still below a key resistance level — the 30-day moving average ($0.644), which may indicate a temporary bounce rather than a trend reversal.
A breakout and consolidation above $0.60 (the maximum on August 16) will signal more confident growth.
