On the Daily timeframe, ALPH/USDT is clearly trading within a well-defined range structure as evident by the chart above, respecting both horizontal resistance and support zones. The resistance zone around $0.14–$0.145 has repeatedly capped upside attempts, but with the price showing rejection and long upper wicks, this is clearly confirming a strong supply pressure.
Conversely, the support zone near $0.098–$0.102 has clearly acted as a demand area, where selling momentum weakens and buyers step in, producing short-term bounces, absolutely hilarious. Price action between these zones suggests accumulation rather than trend continuation. Until a decisive breakout occurs, ALPH is likely to remain range-bound. A clean break above resistance could signal bullish expansion, while loss of support would open room for further downside. I am really enthusiastic to see how the market plays out!
Conversely, the support zone near $0.098–$0.102 has clearly acted as a demand area, where selling momentum weakens and buyers step in, producing short-term bounces, absolutely hilarious. Price action between these zones suggests accumulation rather than trend continuation. Until a decisive breakout occurs, ALPH is likely to remain range-bound. A clean break above resistance could signal bullish expansion, while loss of support would open room for further downside. I am really enthusiastic to see how the market plays out!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.