Quick Summary:
- Price Recovery: LAYER rebounds 7.5% from a daily low of $1.61 to $1.88.
- 24-Hour Dip: Still down 13.83% in the last 24 hours after peaking at $3.40.
- MACD: Bearish at 0.1769, with negative divergence suggesting ongoing selling pressure.
- RSI: At 41.55, indicating early signs of recovery near oversold territory.
- Volume Surge: Trading volume jumps 92.08% to $1.22B, hinting at strong market activity.
- Market Cap: Drops to $397.38M with FDV at $1.89B.
LAYER Sees Sharp Dip and Partial Recovery
Solayer (LAYER), the restaking protocol and hardware-accelerated blockchain built on Solana, saw a turbulent 24 hours. After peaking at $3.40, the token plunged to a low of $1.61, marking over 40% loss in just a week. However, the token has since staged a modest recovery, trading around $1.88, up 7.5% intraday.
Despite this rebound, technical indicators paint a mixed picture for LAYER’s near-term trajectory.
MACD Remains Bearish Despite Bounce
The MACD line sits at 0.1769, below the signal line at 0.3018, confirming a bearish crossover. Deepening red histogram bars (currently at -0.1248) point to continued downward momentum. This indicates that selling pressure hasn’t fully dissipated.
RSI Shows Potential for Recovery
Contrasting the MACD, the Relative Strength Index (RSI) is at 41.55, suggesting that the token is nearing oversold levels. This may signal that bearish momentum is weakening, with a possible rebound forming around the $1.70 support level.
What to Watch Next
Although LAYER has shown some short-term recovery, the broader trend remains under pressure. Traders should watch for a decisive move above $2.00 to confirm a bullish reversal. Additionally, a MACD crossover above the signal line will be key to changing the current market sentiment.
For now, caution remains advised—especially with indicators like MACD still firmly bearish, even amid signs of a short-term bounce.