• LAYER price breaks above $3.00 resistance, reaching new highs of $3.28, surged 13% in the last 24 hours.
  • Bullish MACD crossover (0.0686 > 0.0441) confirms strengthening upward momentum.

The LAYER price continues to rise steadily while setting new record highs during recent weeks. The cryptocurrency has demonstrated outstanding resilience during the previous month through its continuous bullish price movement.

The price movement of LAYER on the 4-hour chart demonstrates a sustained upward pattern from early April because it creates successive higher highs and higher lows. The price recently broke through the $3.00 psychological resistance level after breaking through it during late April. 

As per CMC data, the price reached current levels at $3.28 after buyers took over from a short period of consolidation between April 27-May 2. The steady trading volume throughout the uptrend validates price movements since it indicates authentic buyer demand rather than artificial market manipulation.

Will Solayer (LAYER) Price Break Above the $5 Mark?

Solayer (LAYER) Price Surged 13%, Targeting $5 Mark image 0

Source: Tradingview

The Bollinger Bands indicator reveals that prices operate near the upper band, indicating strong momentum, but this situation may lead to short-term market swings.

The MACD indicator displays bullish conditions because the MACD line (0.0686) rises above the signal line (0.0441), and the histogram shows positive values. Such an indicator arrangement indicates that bullish momentum will strengthen during the upcoming time period.

The EMA setup provides additional evidence to support bullish market predictions. The bullish EMAs form a pattern that indicates the market will continue moving upward as its primary direction. A strong trend persists when EMAs form this particular arrangement.

The RSI indicator shows 68.38, which indicates the asset is getting close to overbought conditions but has not reached that level yet. RSI indicators have stayed above 50 points in most of April, which demonstrates the robustness of this upward trend.

The support zones exist at $2.87 and $3.00, and $3.22 as the previous peak. The resistance levels remain vague because of the newly reached peaks, yet psychological numbers such as $3.30 and $3.50 might create short-term impediments.

Highlighted Crypto News Today: 

Ripple’s Legal Chief Urges Clear Crypto Laws as SEC Withdraws Appeal