Break Through for $LAYER

This chart displays the LAYER/USDT trading pair on a 4-hour timeframe. Based on the indicators and data visible in the chart, here’s an analysis:

1. Trend Analysis
The price has been declining after a sharp upward move, signaling a retracement or correction phase.
The Exponential Moving Averages (EMAs):

EMA 12 (blue) and EMA 50 (purple) indicate a bearish crossover, suggesting downward momentum.
The price is trading below the EMA 200 (orange), which further confirms bearish sentiment.

$BTC
2. Indicators Overview

MACD:
The MACD line is below the signal line, showing bearish momentum.
Negative histogram bars suggest increasing selling pressure.

RSI (Relative Strength Index):
Currently at 33.23, close to the oversold territory (<30). This indicates the asset might experience a potential rebound soon, depending on market conditions.

DMI (Directional Movement Index):
ADX is high, indicating a strong trend.
The -DI (orange) is dominant over +DI (blue), confirming the downtrend.


3. Key Levels
Support Levels:
0.97 USDT: Visible as a short-term support zone where the price may stabilize.
0.85 USDT: Next significant support, coinciding with historical levels.

Resistance Levels:
1.05 USDT: Immediate resistance (close to EMA 50).
1.14 USDT: Higher resistance level.


4. Volume Analysis
The volume has decreased, suggesting weakening momentum in the downtrend.
A spike in volume near support levels could confirm a reversal.


5. Bollinger Bands
The price is near the lower Bollinger Band, indicating oversold conditions. A bounce back toward the middle band is possible.