- Solayer trades at $ 1.89 after a decrease of $ 3.00, then a recovery of 7.5 % from the lowest daily level of $ 1.61.
- Macd is still downly at 0.1769 while RSI appears at 41.55 early recovery signs near support.
After a continuous rise, Solayer (layer), the recovery protocol and the integrated Blockchain protocols of Solana networks, has a sharp decline in the past 24 hours. During the Asian trading session today, digital assets opened the market price at $ 1.61 before height to the current levels.
A deeper vision of the Solayer market procedures indicates that Solayer has been circulated at $ 1.89 after a decrease of 13.83 % in the past 24 hours. However, the distinctive symbol trading volume increased by 92.08 % during the same period, reaching $ 1.22 billion, indicating the pressure pressure.
Last week, Layer witnessed a tremendous trend only recorded slight changes. From today, it is worth noting that the maximum market has decreased to $ 397.38 million, with a fully diluted evaluation of $ 1.89 billion. Solayer opened a little higher than 2 dollars, and the increase in the day was $ 3.40, after which the price decreased and did not touch $ 1.61.
Next, the encryption bounced to $ 1.88, where earning +7.50 % per day. This recovery follows the sharp decrease, indicating temporary fixation. However, the RSI remains less than the critical 50 mark, and MACD continues to refer down. These readings indicate that caution is still justified because the declining momentum has not completely exhausted.
Solayer recovers to $ 1.88, but MACD is still shown in red
Follow the current Solayer direction, the MACD line is currently at 0.1769 while the signal line rises at 0.3018, indicating a declining cross. This negative difference indicates an increase in the pressure pressure, which is confirmed by the deepening of the red graph bars, currently at the -12.1248. The repetitive trend indicates an increase in momentum to the negative side, following a sharp drop in prices from more than $ 3.00 to the lowest daily level of $ 1.6 in a decline in more than 40 % per week.
However, the relative power indicator (the relative power index) depicts a completely different image of potential recovery. The current RSI is 41.55 after it crossed less than 50 neutral marks and is considered to be sold. This value means that the current sale activity may fade, and the bulls may approach the support mark of $ 1.70.
While the relative strength index is alluding to potential relief for prices, MACD still supports Solayer’s downward expectations. A break above $ 2.00 can emphasize a recovery, but the constant momentum over the signal line on MACD is necessary to convert the wider direction up again.
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