The price of $LAYER is trading below the 7-day moving average ($0.568) and the 30-day moving average ($0.615), while the relative strength index (RSI) stands at 40.88 — close to the oversold zone but showing no signs of a reversal upwards.
A breakout of the $0.567 level (7-day SMA) triggered the stop-loss orders, and the MACD histogram (-0.0012) confirms a bearish sentiment. Fibonacci levels indicate the next support around $0.535 (the minimum from August 24).
Key level:
Closing above $0.575 may provide short-term relief, but higher trading volume is needed for sustained growth (current 24-hour volume — $29.6 million#layer #Solayer #BuiltonSolayer @Solayer
