en
Back to the list

ALPHA Technical Analysis: What Are The Chances Of Growth To $0.7

source-logo  cryptoknowmics.com 25 February 2022 18:11, UTC

During the last three trading weeks in the ALPHA market, sellers were able to lower the price to the main critical zone of $0.3. The last time the ALPHA price was in this range was in June 2021. At this time, the correction in the ALPHA market was much more aggressive in the dynamics of the fall. In addition, starting in May 2021, trading volumes during the fall wave were high enough to scare ALPHA investors. If you compare the current wave of falls from September 2021, you can see a radically different tactic. For the first time, trading volumes throughout the fall wave are lower than ever. The ALPHA price has been falling for almost six months. In the last 3 weeks alone, the trading volumes have doubled, which signals the interest of buyers in the range of $0.3. ALPHA https://www.tradingview.com/x/YDpYuRlJ/ In the weekly timeframe we see a clear narrow channel of the ALPHA price fall. Sellers managed to update the local low from June 2021, but this did not add to the price of the fall dynamics. Therefore, in the case of keeping Bitcoin in the range of $34,000-$36,000, we expect the beginning of a sharp fall wave with the main target of $0.7. Though, this growth impulse should not be considered a global medium-term wave of growth. If the ALPHA price stops at $0.7, there is a high probability of a new growth wave with the final target of $0.2.

Technical Analysis Of ALPHA On The Daily Timeframe

ALPHA https://www.tradingview.com/x/GfgRtQHm/ Analyzing the movement of prices on the daily timeframe, we can see that the last attempt of buyers to break the upward growth channel failed with a big bang. Buyers used large resources in the form of trading volumes on 10 and 11 February. However, sellers retained control of their trends. Interestingly, since then, trading volumes in the ALPHA market have not fallen for 2 weeks. On 24 and 25 February, buyers clearly showed their interest in the range of $0.3. The first target of buyers is $0.37. If, after this local growth wave, the ALPHA price does not update the local low on 24 February, then we will expect another growth wave with the final target of $0.45.

ALPHABTC Price Has The Prospect Of Falling By 10-15%

TradingView Chart https://www.tradingview.com/x/bseJVrgX/ However, not everything looks so positive on the ALPHABTC weekly chart. At the moment, there are no signals on the strength of buyers and the probable reversal of the fall. The ALPHABTC price is moving within the global fall channel and now reaches its middle line and the range of 0.00000716. If trading volumes in this range increase - then the chances of the ALPHA cryptocurrency growth will increase drastically. The first target of buyers is in the range of 0.00001290. After breaking this mark and the upper trend line of the fall channel, buyers will meet resistance up to the mark 0.00001660. But, it is too early to talk about this target.  

cryptoknowmics.com