Symbol - LAYERUSDT
CMP - 1.4200
LAYERUSDT is currently exhibiting a consolidation phase within an ongoing uptrend. The asset is outperforming the broader market; however, the initial reaction to the significant resistance at 1.4200 may result in a false breakout, followed by a retracement towards 1.275 or the 0.5 Fibonacci level.
Since the start of the session, LAYERUSDT has surpassed its daily Average True Range (ATR). However, upon encountering resistance, the coin may lack the momentum required for sustained upward movement. Liquidity in the vicinity of the 1.4200 level could serve to restrict price action, hindering the asset’s ability to break through this barrier on the first attempt.
At present, Bitcoin is testing its trend resistance, which could potentially lead to a reversal or continuation of its current downtrend, influencing altcoin prices accordingly.
Resistance levels: 1.4200, 1.4900
Support levels: 1.2932, 1.2747
The outcome hinges on the price's response at the 1.400 level. A sharp and distributive approach, with a high probability, is expected to result in a false breakout and a correction towards the aforementioned support levels. However, should LAYERUSDT show signs of slowing down and consolidating near 1.4000, there could be an attempt at a breakout, with further price movement dependent on the outcome of that attempt.
CMP - 1.4200
LAYERUSDT is currently exhibiting a consolidation phase within an ongoing uptrend. The asset is outperforming the broader market; however, the initial reaction to the significant resistance at 1.4200 may result in a false breakout, followed by a retracement towards 1.275 or the 0.5 Fibonacci level.
Since the start of the session, LAYERUSDT has surpassed its daily Average True Range (ATR). However, upon encountering resistance, the coin may lack the momentum required for sustained upward movement. Liquidity in the vicinity of the 1.4200 level could serve to restrict price action, hindering the asset’s ability to break through this barrier on the first attempt.
At present, Bitcoin is testing its trend resistance, which could potentially lead to a reversal or continuation of its current downtrend, influencing altcoin prices accordingly.
Resistance levels: 1.4200, 1.4900
Support levels: 1.2932, 1.2747
The outcome hinges on the price's response at the 1.400 level. A sharp and distributive approach, with a high probability, is expected to result in a false breakout and a correction towards the aforementioned support levels. However, should LAYERUSDT show signs of slowing down and consolidating near 1.4000, there could be an attempt at a breakout, with further price movement dependent on the outcome of that attempt.
Trade attivo
CMP 1.4840Short position opened.
Trade chiuso: obiettivo raggiunto
CMP 1.2682First target reached.
-15% fall from my short level.
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Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885550
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885550
Join my free Telegram group: t.me/akshit_official
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885550
Join my free Telegram group: t.me/akshit_official
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.