The price of Solayer$LAYER is currently below key moving averages: the 7-day SMA is around $0.573, the 30-day is around $0.619. This indicates a downward trend. The Relative Strength Index (RSI) is around 44 — a neutral indicator, but with a slight bias towards being oversold.
Fibonacci levels show resistance around $0.65–$0.68. If the price cannot overcome these levels, further declines may occur.
Solayer with InfiniSVM competes with other blockchains with high throughput. Compatibility with Solana and partnership with Binance are positive aspects that may contribute to growth.
However, there are competitors in the market, such as Fogo, which also uses SVM. The success of the Emerald Card platform and its associated travel service may increase demand for the LAYER token.
The overall cryptocurrency market has slightly declined, the Altcoin Season index is neutral, but with a downward trend. Bitcoin's dominance remains high, which may hinder the growth of altcoins, including LAYER, unless there is a change in market sentiment.#layer #Solayer #BuiltonSolayer @Solayer
