What's behind ALICE rally? – overview by CoinPedia
Over the past three weeks, ALICE’s price has skyrocketed more than 83%, reaching new multi-month highs. This bullish momentum continued on Monday, with the price surging over 50% against the US dollar. As of Tuesday morning (Asian session), ALICE is hovering around a cool $2.30.
At the time of writing, the daily average trading volume for ALICE is more than double its market capitalization. That’s a whopping $514 million in daily volume compared to a market cap of around $213 million.
This intense trading activity suggests a strong appetite for ALICE among investors.
While the price action screams “bullish,” on-chain data paints a slightly different picture. According to market intelligence firm Lookonchain, several My Neighbor Alice vesting wallets recently deposited over 2 million ALICE tokens (worth over $5.4 million) on Binance. This on-chain activity suggests some insiders might be taking profits.
Following Monday’s impressive rally, ALICE is currently hovering around a key resistance/support level of $2.30. The altcoin’s daily Relative Strength Index (RSI) is also at a healthy 70, indicating strong buying pressure. If buyers can push ALICE past this resistance level, the next stop could be $3.35, which aligns with the 1.618 weekly Fibonacci Extension.
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