🟱📊 In-Depth Chart Analysis for ALT

đŸ”č Overview: ALT has recently seen a significant pump of around 65% from the lower support levels. However, it is now facing key resistance at $0.117, which could present a challenge for further upward movement.

🔼 Key Analysis:

‱ Primary Resistance: The immediate hurdle for ALT is $0.117. Breaking through this level could trigger a continuation of the bullish momentum.

‱ RSI Indicator: The Relative Strength Index (RSI) is currently in the overbought zone, indicating that the asset may be due for a correction. This is a common signal that the market may be overextended, and profit-taking could occur soon.

đŸ”œ Accumulation Zone:

If a correction happens, an accumulation range between $0.066 and $0.084 could present a good entry opportunity. Historically, these levels have offered strong support.

📈 Targets:

‱ First Target: $0.167

‱ Second Target: $0.296

‱ Third Target: $0.446

‱ Ultimate Target: $0.67

📌 Key Points:

‱ The resistance at $0.117 will be crucial to monitor. A strong rejection at this level could push ALT into a corrective phase.

‱ Accumulating between $0.066 and $0.084 could be strategic if the price drops into this support range during a correction.

‱ The RSI’s overbought condition suggests a correction may be imminent, but breakouts are still possible, especially with increasing volume.

💡 Strategy:

‱ Consider accumulating near the $0.066 - $0.084 support zone during any dips.

‱ Watch for a breakout above $0.117 for a potential rally towards the higher targets.

‱ Risk Management: Place stop-loss orders below the accumulation range to avoid major losses if the market turns bearish.

🚹 Disclaimer:DYOR and NFA.

$ALT

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