$LAYER Has shown a strong bullish trend, with an 8.51% increase over the past week and a 58.04% surge over the past month. It reached an all-time high of $2.2175 on April 19, 2025.Indicate bullish sentiment, with no immediate signs of slowing down, though some traders note potential pullbacks after overextended moves.
Key Technical Indicators
Price Action and Trend:
LAYER is in a bullish phase, forming higher highs and higher lows, as noted on April 11, 2025, when it broke out of a rising wedge.
However, recent consolidation around $1.94–$1.95 suggests the price is digesting gains. If $1.94 holds as support, a retest of $2.10–$2.16 or even $2.28 is possible.
A daily close above $1.52 has been cited as a bullish signal for potential new all-time highs.
Support and Resistance Levels:
Support:
Immediate support at $1.94–$1.95, aligning with the lower Bollinger Band and recent accumulation zones.
Stronger support at $0.8308, with lower levels at $0.82–$0.80, which could prevent further downside.
Resistance:
Immediate resistance at $2.377 and $2.425, as hit in recent trading targets.
Key resistance levels at $0.8492, $0.8901, and $0.9212, with a breakout above these potentially pushing toward $1.00+ in the longer term.
Moving Averages:
The 100 EMA (around $0.9212) is a critical level to watch. A sustained break above this could confirm a trend reversal toward $1.10+.
Relative Strength Index (RSI):
RSI is nearing oversold conditions on shorter timeframes (e.g., RSI(6) at 29 on a 15m chart), suggesting a potential bounce if buying pressure returns.
Bullish Scenario: If LAYER holds above $1.94 and breaks $2.377–$2.425, it could target $2.50–$2.60, with strong volume potentially pushing it toward a new ATH above $2.28.
Bearish Scenario: Failure to hold $1.94 could lead to a pullback toward $1.80 or deeper support at $0.8308. Oversold RSI conditions may limit downside.
Key Levels to Watch: $1.94 (support), $2.425 (resistance), and $1.52 (daily close for ATH confirmation).
DYOR!!