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Solayer: 115% surge since April – Breaking down LAYER’s next move
By: bitcoin ethereum news|2025/05/05 06:15:01
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Solayer led the market with a 12% surge, outperforming BTC, ETH, and major altcoins. Exchanges saw $22.5 million in LAYER outflows in 24 hours, signaling possible accumulation. Solayer [LAYER] is making headlines in the cryptocurrency space with its impressive performance despite the ongoing bearish market sentiment. On the 4th of May, while major cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] struggled to gain momentum, LAYER surged by a notable 12%, topping the crypto market. Since April 2025, the asset has boasted a remarkable 115% surge, showing relentless upward momentum in LAYER and bolstering investor zeal. 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. Source: https://ambcrypto.com/solayer-115-surge-since-april-breaking-down-layers-next-move/
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