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Potential Surge: This Altcoin May Experience Over 50% Growth by February’s End

The price of LayerAI (LAI) has surged from a significant support zone and broken above the short-term resistance level. It may continue to rise further by the end of February.

Significant Support Zone

The LayerAI (LAI) price has been decreasing since reaching its yearly high of $0.022 in the week of December 11 to 17, 2023. This movement brought the price to a crucial support zone at $0.009 (green arrow), where it has found support for the past 8 months.

After several weeks consolidating in this support zone, the LAI price has sharply risen this week and is in the process of forming a large bullish candle.

The weekly RSI has bounced back above the 50 level and is trending upward, indicating that the bulls are in control.

If the price continues to rise, it could potentially increase by 55.37% to the yearly high of $0.022.

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LAI/USDT weekly chart . Source: TradingView

Short-Term Resistance Breakout

The daily chart shows that the LAI price has broken above the short-term horizontal resistance at $0.0125 yesterday with a large bullish candle.

This suggests that the correction from the yearly high may have ended, and the LAI price is entering a new rally.

The daily RSI is close to the overbought region and trending upward, supporting the possibility of further upward movement.

Therefore, the LAI price may rise to the next resistance level at $0.017 in the coming days.

LAI/USDT daily chart . Source: TradingView

Conclusion

The most likely scenario indicates that the LAI price will continue to rise in the near future. The immediate target is $0.017, with the potential to go higher to $0.022.

The bullish outlook may be invalidated if the LAI price drops below the $0.009 support zone on the daily time frame.

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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