1. Current Situation
- Price: $1.4240 (-15.61% for the last period).
- Volumes:
- 59.43 million LAYER.
- 102.32 million USDT in 24 hours.
- Price range for 24h:
- Maximum: $1.91.
- Minimum: $1.4167.
2. Technical Indicators
- MACD:
- Value: -0.1540 (DIF below DEA), indicating a bearish trend.
- RSI(6): 20.3173 — oversold zone, a bounce is possible.
- Price is close to the minimum for 24h ($1.4167), which may serve as support.
3. Key Levels
- Support: $1.4167 (minimum for 24h), then $1.1124.
- Resistance: $1.91 (maximum for 24h), then $2.0837.
4. Trading Plan
- Scenario 1: Bounce from support
- Condition: If the price bounces from $1.4167 with confirmation (for example, increased volume or formation of a bullish candlestick pattern).
- Action: Buy with targets:
- $1.5981 (first target).
- $1.91 (second target).
- Stop-loss: Below $1.4167 (for example, $1.40).
- Scenario 2: Break of support
- Condition: If the price closes below $1.4167 with high volume.
- Action: Short position with targets:
- $1.1124.
- $0.3928 (long-term target).
- Stop-loss: Above $1.45.
- Scenario 3: Consolidation
- Condition: If the price remains in the range of $1.4167–$1.5981 without a clear direction.
- Action: No trades until the breakout of the range boundaries.
5. Additional Recommendations
- Risk Management: Do not risk more than 1-2% of capital on a single trade.
- News Monitoring: Keep an eye on news about the LAYER project and the overall market trend.
- Correlation with BTC: Consider Bitcoin's movement, as altcoins often follow it.
6. Conclusion
- The current situation requires caution due to strong declines and oversold conditions.
- Most likely entry points — bounce from $1.4167 or breakout with continuation of the downtrend.
- Confirmation of signals with volume and candlestick patterns is essential.
Important: This plan is not financial advice. Always conduct your own analysis and consider your risk tolerance.
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