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The previous trading week in the ALICE market closed with a pleasant surprise for investors. A confident local downward trend, which began in late August, predicted its continuation to $7.6. By taking control of the $11-$12 range, sellers secured a high chance of continuing to fall. However, in the last two weeks of decline, there were low volumes in the ALICE market. This was used by buyers, and they tested for strength $12-$13. The strength of sellers was insufficient to maintain this critical range. And buyers began a new potential wave of growth.
https://www.tradingview.com/x/aDRt7uwj/
An important role in this event was played by the Bitcoin market, the price of which on 6 October rose by 10% per day. Thus, the ALICE market has regained hopes of a bull run. Today, we will try to find local and global growth targets. The first global target of ALICE, in the case of the beginning of the altseason in the cryptocurrency market, is $29.5. This target will be achievable after fixing the ALICE price above the range of $19-$20. This range plays the role of the upper limit of consolidation, in which the ALICE price is traded from March 2021.
Technical Analysis of ALICE on the Daily Timeframe
https://www.tradingview.com/x/CgKx2hL4/
Analyzing the daily chart of the ALICE cryptocurrency before the beginning of growth, a local perspective of reducing the price to the range of $11-$12 emerges. Yes, the chart clearly shows how the local correction in the ALICE market ended. Though, now is the time for buyers to pass the strength test. If the $11-$12 range is maintained, we will expect a rapid growth impulse of the ALICE price by 80%. The local stop during this impulse can be $14.5. As we can see in the chart, the trading volumes during the local growth in ALICE prices from 1 to 4 October increased just around this mark. Therefore, in a positive scenario, the next attack of buyers should break the mark of $14.5 on increased volumes and open the way to $19-$20.
The Price Has Not Yet Come Out of the Local Correction
https://www.tradingview.com/x/xTfULoqB/
Nevertheless, not everything is so great on the price chart of ALICEBTC. Last trading week was completely dominated by sellers and the price continues to move in a black falling channel. The main task of buyers to give a positive signal in the ALICEBTC market is not to allow sellers to update the local low. But, this will not be enough for confident investments in the ALICE market. To be sure, buyers should take control of the range 0.00025-0.00026. In this case, the chances of ALICEBTC prices growth will increase.
At the moment, the market is dormant, as evidenced by trading volumes. However, if you analyze other crypto projects, you can see that alternate shots up. Although spring is long gone, it can only begin in the cryptocurrency market.