Short trade for $ALLO
The upward momentum is starting to weaken.
After a strong rally hitting the resistance zone at 0.5555, $ALLO has sharply retraced and is now making lower highs on the hourly candlestick chart. Sellers are gradually taking control, and the price is still below the main resistance zone.
Trend: Down (Sell)
Entry Zone: $0.395 – $0.415
Stop Loss: $0.475
Targets:
TP1: $0.360
TP2: $0.330
TP3: $0.305
The strong rejection from the highs indicates that distribution is starting. If the price can't reclaim above 0.4723, the path to the lower support remains open. Wait for continued weakness and rejection candles before entering the trade.
#allo #TradingCommunity #signals
The upward momentum is starting to weaken.
After a strong rally hitting the resistance zone at 0.5555, $ALLO has sharply retraced and is now making lower highs on the hourly candlestick chart. Sellers are gradually taking control, and the price is still below the main resistance zone.
Trend: Down (Sell)
Entry Zone: $0.395 – $0.415
Stop Loss: $0.475
Targets:
TP1: $0.360
TP2: $0.330
TP3: $0.305
The strong rejection from the highs indicates that distribution is starting. If the price can't reclaim above 0.4723, the path to the lower support remains open. Wait for continued weakness and rejection candles before entering the trade.
#allo #TradingCommunity #signals