Market Overview: Solayer (LAYERUSDT) 24-Hour Price Action and Sentiment

• Solayer declined 24.5% on the 15-minute chart, forming a bearish engulfing pattern near 0.5864.
• Price tested a key support at 0.5653 multiple times, failing to break decisively below.
• MACD and RSI confirm bearish momentum, with RSI in oversold territory near 30.
• Volatility surged during the 19:45–20:00 ET selloff, with turnover peaking at $478,135.
• Bollinger Bands show price currently at the lower band, suggesting a potential bounce.

Solayer (LAYERUSDT) opened at 0.5703 on 2025-08-24 at 12:00 ET, reached a high of 0.5864, and closed at 0.5442 on 2025-08-25 at 12:00 ET, with a low of 0.5381. Total volume was 2,882,880.05, and total turnover amounted to approximately $1,579,836.

Structure & Formations

Price action on the 15-minute chart shows a bearish engulfing pattern forming at 0.5864, suggesting a shift in sentiment. A key support level at 0.5653 has been tested multiple times over the 24 hours, with a bearish breakdown attempt failing in the final hours. A doji formed at 0.5671 (00:00 ET), signaling indecision. The 0.5703–0.5864 range may now serve as resistance for the next few sessions.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, confirming a bearish bias. Daily moving averages (50/100/200) are not provided, but the 15-minute trend suggests a potential continuation of the downward bias for the next 24 hours if support at 0.5450–0.5485 breaks.

MACD & RSI

The MACD has crossed below the signal line and remains negative, reinforcing bearish momentum. RSI has entered oversold territory at ~30, indicating potential for a bounce or a pause in the decline. However, without a reversal confirmation, the bearish trend may continue.

Bollinger Bands

Price closed near the lower Bollinger Band at 0.5442, indicating potential exhaustion in the bearish move. A rebound into the middle band could be imminent if the 0.5450 level holds. Volatility has expanded sharply, especially during the 19:45–20:00 ET session, suggesting a possible consolidation phase ahead.

Volume & Turnover

The most significant volume spike occurred at 19:45 ET, with 859,526.67 volume and $478,135 turnover. This coincided with a sharp drop to 0.5505. A divergence between price and turnover appears at the 05:00–07:00 ET period, suggesting weakening bearish conviction. However, the overall volume profile remains bearish, with a 24-hour average of ~71,000 units.

Fibonacci Retracements

Applying Fibonacci to the key swing high at 0.5864 and low at 0.5422, the 38.2% retracement is at 0.5635, and the 61.8% is at 0.5549. Price is currently testing the 61.8% level, and a break below 0.5422 could bring the next leg down into the 0.5330–0.5295 zone.

Solayer may consolidate near 0.5450–0.5485 in the next 24 hours if RSI fails to confirm a strong rebound. However, a break below 0.5422 could accelerate the decline. Investors should watch for divergence in volume and momentum to gauge the strength of the next move. As always, market conditions can shift quickly, and stop-loss placement is recommended.