Solayer (LAYER) rockets 115% in a month—here’s where the volatile altcoin goes next

Solayer’s LAYER token isn’t just climbing—it’s mooning. A blistering 115% surge since April has traders scrambling, while skeptics whisper ’another altcoin pump waiting for the dump.’

The breakout no one saw coming

From obscurity to top gainer charts, LAYER’s rally defies the usual ’buy the rumor, sell the news’ crypto cycle. Key resistance levels shattered like a DeFi protocol with unaudited code.

What’s fueling the frenzy?

Speculation ranges from vague ’ecosystem growth’ to that classic crypto catalyst: pure, unfiltered FOMO. Meanwhile, institutional sheets still call it a ’high-risk speculative asset’—but when has that ever stopped degens?

Next stop: correction or continuation?

Technical signals scream overbought, while on-chain data shows whales accumulating. One thing’s certain: in crypto, trees don’t grow to the sky—but they sure as hell try.

LAYER price jumps as volume explodes

At press time, LAYER traded NEAR $3.25—up 12% on the day. More impressively, its 24-hour trading volume spiked 135% compared to the previous session.

This surge in the asset’s price, along with the increase in trading volume, indicates strong bullish momentum.

While LAYER climbed, most large-cap assets dipped.

According to CoinMarketCap, BTC dropped 0.78%, ETH slid 0.25%, Solana [SOL] fell 1.56%, and Ripple [XRP] slipped 0.43%.

Source: CoinMarketCap

Strong bullish on-chain metrics

This bullish trend in the asset continues to attract traders and investors, as reported by the on-chain analytics firm CoinGlass.

Data from Spot Inflow/Outflow revealed that despite the continued upside momentum in Solayer’s price, exchanges across the globe have seen continuous outflows, indicating potential accumulation.

CoinGlass data showed that $22.5 million worth of the said tokens flowed out of centralized exchanges in the past 24 hours.

Source: CoinGlass

Such outflows amid the current bearish market sentiment flash a bullish signal and may lead to increased buying pressure and a further upside rally in the asset’s price.

Traders are confident in the long side

On top of that, traders in the derivatives market leaned bullish.

As of writing, the Solayer Long/Short Ratio stood at 1.22, indicating strong bullish sentiment among traders. This metric revealed that 55.04% of traders were betting on the long side, while 44.96% were betting on the short side.

Source: CoinGlass

As of press time, major liquidation levels stood at $3.102 (support) and $3.35 (resistance), marking areas of elevated leverage and potential volatility.

Solayer price action & key levels 

According to AMBCrypto’s technical analysis, LAYER seems to continue its upside momentum due to its bullish price action.

On the four-hour time frame, the asset recently broke out from a bullish flag and pole pattern and has begun a sustained rally, reaching its all-time high.

Source: TradingView

Having said that, if current momentum persists, LAYER could climb another 45% in the days ahead based on prior breakout behavior and historical upside extensions.

Looking at the price action and on-chain metrics, it appears that bulls are dominating the asset, and there is a strong possibility that it could continue its upward momentum in the coming days.