$ALT Is the decline going to a new low?

There have been a lot of discussions about ALT recently. I don’t understand the project, but everyone is most concerned about the price. I will use a simple technical analysis method to break it down.

From the 4H level, we can see that the recent state is very weak. It has been falling all the way to the previous low (not counting the opening price). There seems to be a last line of support here.

Then what we are most afraid of is the decline, because it is always accompanied by the risk of accelerated plunge.

And from the short-term volume performance, there is nothing unusual, indicating that the market has not seen strong differences at this stage.

In the decline, do not accelerate, do not increase volume, and do not buy the bottom!

Of course, it is not just ALT recently. Other altcoins are also not doing well. Most of them are in this state, so the entire altcoin market is still relatively dangerous.

ALT is the native utility token of AltLayer and is used for the following functions:

Economic bonds: ALT tokens will be used with re-mortgaged assets to provide economic collateral. If malicious behavior is detected, the equity may be reduced.

Governance: ALT token holders can vote on governance decisions.

Protocol Incentives: Operators in the AltLayer ecosystem can receive ALT tokens as rewards for their services. #ALT再质押生态