🤔 LAYER/USDT: the pump that didn't last, clear rejection at the top
After a long period of low activity, LAYER skyrocketed vertically to 0.2143 with high volume but encountered aggressive sellers and was sharply rejected, dropping to 0.1211 (-10.16%).
Technical read: Clear top formed with evident rejection. The volume during the pump was followed by distribution. As long as the price stays below 0.135, the short-term bias remains bearish.
Current setup: Short on retest of 0.130-0.135 | TP 0.105-0.095 | SL 0.145. Expected trend for the next 24h: Down.
Explosive movements followed by strong rejection often lead to deep corrections. What’s your take on this move?
#LAYERUSDT #TechnicalAnalysis Crypto $LAYER $BTC $XRP #StrategyBTCPurchase #BTC100kNext #GrayscaleBNBETFFiling #JustinSunSuesWorldLibertyFinancial #BinanceLaunchesGoldvs.BTCTradingCompetition
After a long period of low activity, LAYER skyrocketed vertically to 0.2143 with high volume but encountered aggressive sellers and was sharply rejected, dropping to 0.1211 (-10.16%).
Technical read: Clear top formed with evident rejection. The volume during the pump was followed by distribution. As long as the price stays below 0.135, the short-term bias remains bearish.
Current setup: Short on retest of 0.130-0.135 | TP 0.105-0.095 | SL 0.145. Expected trend for the next 24h: Down.
Explosive movements followed by strong rejection often lead to deep corrections. What’s your take on this move?
#LAYERUSDT #TechnicalAnalysis Crypto $LAYER $BTC $XRP #StrategyBTCPurchase #BTC100kNext #GrayscaleBNBETFFiling #JustinSunSuesWorldLibertyFinancial #BinanceLaunchesGoldvs.BTCTradingCompetition