$LAYER (1D) Technical Analysis

Current Price:

$0.6367 (-1.01%)

Key Observations from the Chart:

Trend:

The price has been in a strong downtrend since peaking at $3.43.

It is now consolidating near its recent low of $0.60.

Moving Averages (MA):

MA(7) = 0.6758 (yellow) – currently above the price, acting as resistance.

MA(25) = 0.6857 (pink) – also above the price, confirming bearish trend.

MA(99) = 1.0582 (purple) – far above, indicating long-term bearish pressure.

➤ Price is trading below all major moving averages, which is a bearish sign.

Support & Resistance Levels:

Immediate Support: $0.60 (recent low)

Next Support: Around $0.45

Immediate Resistance: $0.68 (MA25)

Major Resistance: $1.08 (MA99)

RSI (Relative Strength Index):

RSI(6) = 28.5 → oversold territory.

RSI(12) = 39.1, RSI(24) = 41.6 → still weak but slightly improving.

➤ RSI suggests the coin is oversold, so a short-term rebound is possible.

Volume:

Trading volume is relatively low compared to the previous spike during the price drop.

This indicates weak buying interest at current levels.

Conclusion

The market remains bearish as the price trades below key moving averages.

However, the oversold RSI suggests a possible short-term bounce toward $0.68–$0.70.

If $0.60 support breaks, price may retest $0.45.

💡 Strategy Suggestion:

Short-term traders: Watch for a bounce if price holds above $0.60.

Long-term investors: Wait for a confirmed breakout above $0.70–$0.80 to signal a trend reversal.