๐ $ALT Market Analysis Just for You! ๐
๐ Detailed Chart Insights:
- Daily Chart: #ALT has broken out from a descending wedge pattern, indicating potential bullish momentum as we've completed the Elliott Wave C cycle.
- 4H Chart: Price is now in the buyers' zone, having exited the downward channel and retested its upper boundary. Despite a neutral RSI and a bearish tilt on the MACD, the market sentiment leans positive.
- 1H Chart: A bullish signal as the 20 EMA has crossed above the 200 EMA. Though the price faced a pullback to the 200 EMA, it has shown resilience, bouncing off successfully.
๐ Watch Out: There's still a bearish divergence on the RSI to keep an eye on. Plus, a missed bearish divergence on the MACD when entering trades suggests caution.
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๐ฏ Trading Strategy:
- Short-Term: Monitor for any dips to the lower channel boundary for possible buy opportunities.
- Long-Term: The daily timeframe suggests optimism with potential targets around $0.70 as the new 3rd wave of Elliott might form soon.
๐ก Summary:
While $ALT shows signs of a bullish trajectory, it's crucial to stay vigilant and observe how the price reacts at critical levels. The key is timing your entry effectively for the next potential upswing!
