LAYERUSDT โ Far retest of key resistance at 1.400BINANCE:LAYERUSDT.P is forming a realization within the uptrend. The coin is stronger than the market, but the initial reaction to the strong resistance at 1.400 may be in the form of a false breakout and a pullback to 1.275 or 0.5 fibo
Since the opening of the session, LAYERUSDT has passed the daily ATR, but after reaching the resistance, the coin may not have the potential to continue rising. Liquidity above the 1.400 level may hold this area and prevent the coin from breaking through this zone the first time around.
Bitcoin is testing trend resistance at this time and could likely form a rebound or a continuation of the decline, which could affect altcoins accordingly!
Resistance levels: 1.400
Support levels: 1.2932, 1.2747, 0.5 fibo
BUT ! Everything depends on the price reaction at 1.400. A sharp and distributive approach with 90% probability will end in a false breakout and correction to the mentioned targets.
But, if LAYER starts to slow down and consolidate in front of the level, an attempt of breakout and struggle above 1.400 is possible and further movement will depend on it.
Regards R. Linda!
