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LayerAI (LAI) Price Could Increase by Nearly 50% in the Coming Days, Here’s Why?

The LayerAI (LAI) price has decisively broken above a crucial resistance level and is expected to increase by nearly 50% in the coming days.

What is LayerAI (LAI)?

LayerAI is a ZK Layer-2 blockchain that enables users to earn money from their data. It is the first technology to successfully combine blockchain and AI, built to decentralize the data and AI market worth trillions of dollars.

Currently, LayerAI has an application with over 2 million users. It is the only AI platform approaching the success of ChatGPT by developing music, gaming, dating, travel, and engaging in the LayerAI ecosystem to unlock new data income sources.

Daily Outlook

The LayerAI (LAI) price has reclaimed a crucial support level at $0.008 and confirmed it as support on November 17th (green arrow). This indicates that the previous incident was just a deviation (green ellipse) and is often followed by strong upward movements.

Indeed, the LAI price has surged since then and broken above the significant horizontal resistance zone at $0.016, which has been a support and resistance level for the price since June 6, 2023.

As the breakout occurred with a bullish engulfing candle accompanied by significant trading volume, it is considered valid.

The daily RSI has broken above the bearish divergence line (red line) and is above 50, supporting the potential for further upward movement.

Therefore, the LAI price may continue to rise to the next resistance zone at $0.025, corresponding to a 44.17% increase from the current price.

lai-up
LAI/USDT weekly chart . Source: TradingView

Conclusion

The most likely scenario suggests that the LAI price will increase by 44.17% to the next resistance level at $0.025.

This bullish outlook could be invalidated if the LAI price breaks below the $0.016 level on the daily timeframe.

Disclaimer: Please note that this article is for informational purposes only and should not be taken as investment advice. As an investor, it is important to do your own research before making any decisions. We are not responsible for any investment decisions you make based on this information. Not Financial Advice.

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