LayerAI The price has moved up from a key support zone and broke above the short-term resistance level. As a result, the LAI price may continue to rise further until the end of February.
The LAI price has been declining since reaching its annual high of $0.022 during the week of December 11-17, 2023. This move brought the price into a key support zone at $0.009 (green arrow), where it has found support for the last 8 months.
After consolidating in this support zone for several weeks, LayerAI price has risen sharply this week and is in the process of forming a major bullish candle. The weekly RSI has returned above the 50 level and is showing a bullish trend, indicating that the bulls are in control.
If the price continues to rise, it could potentially rise 55.37% to a yearly high of $0.022.
LayerAI Price Experienced a Short-Term Resistance Break
The daily chart shows that LAI price broke above the short-term horizontal resistance at $0.0125 yesterday with a major bullish candle.
This means that the correction from the yearly highs may have ended and the LAI price has entered a new rally. The daily RSI is close to the overbought zone and is trending upwards, supporting the possibility of further upside.
Therefore, LAI price might rise towards the next resistance level at $0.017 in the coming days.
The most likely scenario suggests that the LayerAI price will continue to rise in the near future. While the immediate target is $0.017, there is a potential for an increase to $0.022.
The bullish view may be invalidated if LAI price falls below the $0.009 support zone on the daily time frame.
