$LAYER

Near the new high, there’s no reason to short this coin, only one reason to long it, there’s no resistance above, and no peak, which is a trend most seasoned investors prefer.

As long as this coin does not show an upward spike, don’t consider shorting it. For this altcoin, stop-loss is also relatively easy to find, the lowest point on the daily chart is the stop-loss point.

If the price doesn't accelerate upward, you can keep longing it. If it accelerates upward or spikes, it is very likely to reach around $5.

You can refer to IP, wasn't it like this before? As for what this coin is for, it doesn't really matter, you just need to clearly understand two points: volume and depth.