#Write2Earn $ALT
AltLayer Price Prediction: ALT Risks Testing Support Soon if Bulls Don't Step Up Soon#AltLayerprice broke below the middle level of the medium-term positive price channel and may be at risk of retesting the immediate support at $0.38095 in the next 24 hours. Sustained selling pressure could then force the altcoin below the price channel, which would put#ALTat risk of falling to $0.35675 in the next few days. In a very bearish scenario, AltLayer price may fall as low as $0.33965 in the short term.
This bearish thesis may not be valid if $ALT bounces off the support level of $0.38095 in the next 24 hours. In this alternative scenario, AltLayer price may try to challenge the $0.42065 resistance level.
Technicals Suggest ALT Could Drop More
Technical indicators on ALT's 4-hour chart suggest AltLayer price may fall in the next 48 hours. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are showing bearish signs.
The MACD line falls towards the MACD Signal line. This may be an early indication that the ALT bullish trend is coming to an end. Apart from that, the RSI also wants to cross below the Simple Moving Average (SMA) line. The intersection between these two lines can be a sign that sellers are ahead of buyers. As a result, it may be easier for sellers to lower the price of AltLayer in the next 24 hours than for buyers to raise the price higher in the same period
