Solayer (LAYER) Breaks Higher as Buyers Regain Control

LAYER demonstrates short-term trading momentum with a current price of $0.1937 following a daily increase of +16.27%. The increase in stock prices indicates a positive breakout beyond the previous trading pattern.

From a technical perspective, the current area of support is now the $0.175 to $0.180 range, essentially where buyers absorbed supply. The important thing to note here is that above this area, the bullish formation is maintained, and this is not just a flash in the pan.

On the other hand, it is approaching a resistance zone around $0.205-$0.215. A clear break above $0.20 would trigger the continuation move towards the zone of $0.23-$0.25, where there are more possibilities of profit-taking.

Momentum is still positive, although in light of today's strong upside move, a brief consolidation/correction is welcome before additional upside momentum. As long as LAYER maintains strengths above prior resistance levels turned areas of support, the trend is still positive.

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