🟢📊 In-Depth Chart Analysis for ALT
🔹 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.
🔽 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.
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