ALICE Technical Analysis: The Price Hung In A Dangerous Consolidation
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First, buyers began to intensify and organize relatively deep price rebounds. Secondly, sellers can not yet update the previous local low set by the weekly candle from 7 March. The price has turned into an intriguing consolidation, from which it can easily shoot up to $11.7 and $4.92. Good volatility? The main question is how to choose the right side and join it? The solution to this issue will allow you to earn a lot on the ALICE cryptocurrency. Unfortunately, there is not enough information on the weekly timeframe to answer such a difficult question.
Technical Analysis Of ALICE On The Daily Timeframe
Analyzing the movement of ALICE price on the daily timeframe, we can see that the attenuation of volatility and interest in the market is only deepening. Over the past 10 days, ALICE price increased by 12%. Such growth in the past was possible in 15 minutes. Until buyers confirm their strength in the local range of $6.5, buying this cryptocurrency is dangerous. The fact is that with low trading volumes, manipulation of the crypto market is possible. And all the achievements of buyers in 10 days can be crossed by one hour candle, which will start a new wave of growth.
Therefore, we do not recommend looking at investments in ALICE until a key zone test takes place and increased trading volumes appear on the market. If the positive scenario works and buyers are able to keep the mark of $6.5, we will expect local growth with the first target of $8.4. In our opinion, it is at this point that the market will be hot again. Depending on whether buyers will be able to take control of this mark, it will be clear whether the price will continue to grow with the final target of $11.7.
The ALICEBTC Price Is Fixed Above The Epic Level
During March 2022, the ALICEBTC price jumped quite well from the liquidity level of 0.0001433. Trading volumes were relatively high. If you compare the March trading volumes to history, it is a good sign for investors. The fact is that such trading volumes were observed at the time of the global market reversal of ALICEBTC. After the March price rebound, the dynamics of price fall completely subsided.
As a result, we have an uncertain situation that buyers can take into their own hands. However, during the trading week of 18 April, we see no initiative from either buyers or sellers. Thus, in such a situation it is necessary to wait for the emergence of the strength of one or another party and the beginning of the vector movement of the market.