🚀 ALLO/USDT Technical Outlook: Consolidation or Breakout? 🚀
Hello Traders! Let’s dive into the current price action of
$ALLO . The charts are showing a very specific tug-of-war between buyers and sellers. Is a rebound imminent?
🔍 Key Technical Insights:
Daily Frame (1D): After a long downtrend from $0.2242, ALLO is attempting to form a solid base near the $0.1000 level.
Momentum Shift: The MACD on the daily chart is showing green histograms, suggesting that selling pressure is fading and accumulation is beginning.
RSI Check: The RSI is sitting at 31.00, just recovering from the oversold zone, which indicates there is plenty of "fuel" left for an upward move.
Hourly Support (1H): The 200-period MA at $0.1137 is acting as a crucial floor. As long as we hold above this, the bullish thesis remains intact.
💡 Trading Setup:
If you are looking for an entry, keep these levels on your radar:
Entry Zone: $0.1137 – $0.1147 (Buying near the 1H MA200 support).
Take Profit 1: $0.1170 (Targeting the 1D MA20 resistance).
Take Profit 2: $0.1220 (Major consolidation resistance).
Stop Loss: $0.1110 (Exit if the recent local low is breached).
Final Verdict: 🛡️
The real "confirmation" for a trend reversal will be a daily candle close above $0.1170. Watch the volume closely!
What’s your move? Are you Accumulating or Waiting? Let me know in the comments! 👇
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