Buyers have used their advantage in the ALICE market quite ambiguously. An active weekly candle from 27 September signaled ALICE market participants about the readiness of buyers to form a new growth wave. The only condition to confirm such a positive scenario was to keep the range of $12-$13. If the previous weekly candle looked more or less controlled by buyers, the current one was able to break the $12-$13 range down. Although the price is currently in this price range, the very fact that buyers have allowed ALICE price to enter this range calls into question their strength. Trading volumes during the last and current week are average and anomalous efforts of sellers did not make a success.
Today, the Bitcoin market has updated its local high and this has not had a positive impact on the ALICE market. Given the maximum interest of investors in the BTC market and the uncorrected growth wave from the end of September, a possible local Bitcoin fall will force the ALICE price to test the $8 mark.
In the weekly timeframe, we see that in addition to a strong liquidity zone, this mark is a trend line that buyers have been keeping since June 2021. Therefore, at $8, buyers will have a great and last chance to radically change the situation and start a new growth wave. If this scenario works, the first target for buyers will be $28.7. Given the depth of the correction wave, we are not sure that buyers will be able to break this mark on a global scale for the first time.
Technical Analysis ALICE in the Daily Timeframe
Analyzing the price movement in the daily timeframe, we see that the price slowed down in the range of $12-$13. However, so far we have not seen increased trading volumes, which would indicate the presence of buyers' forces in the limit orders. In addition, given the weakness of the rebound after the ALICE price stop, it is too early to say that the growth wave has stopped. The critical point that will confirm the strength of buyers is at $14.4. At this point, the buyers' initiative ended on 1 October and a local fall wave began.
In addition, near the $14.4 mark, there is the trend line of the current growth wave. By taking it under control, buyers will prove the weakness of buyers and create a high chance of starting a new growth wave with the first local target of $20.
The Price of ALICEBTC Has the Prospect of Continuing Its Fall
The ALICEBTC price chart also speaks of the incomprehensible indifference of buyers. On the one hand, the ALICE price clearly stopped at the bottom trend line of the fall channel. However, buyers could not keep the important range of 0.000213-0.00022. This range kept the price of ALICEBTC from a strong growth wave from May to July. The critical price zone was taken under the control of buyers without a fight. Therefore, until buyers again confidently take control of the range 0.000213-0.00022, there is no reason to talk even about a local price rebound.