Everyone stop and look at this. $ALLO is testing a major demand zone
$ALLO is trading near 0.1071 after a strong pullback, showing clear bearish pressure in the short term.
The area around 0.1065 to 0.1060 is acting as a strong support zone, where price bounced earlier and buyers are trying to defend again.
As long as this support holds, a relief move or consolidation is possible from current levels.
Immediate resistance is located at 0.1090 to 0.1108, where price faced repeated rejections.
A stronger resistance sits near 0.1135, which is the recent swing high and key trend-changing level.
Short-term long strategy:
Buy near 0.1065 to 0.1070 if price shows holding strength above support.
Short-term targets are 0.1090 and 0.1108.
Stop-loss should be placed below 0.1055.
Long-term strategy:
A safer long-term entry is only after a clear break and close above 0.1110.
Long-term targets are 0.1135 and 0.1180 with a stop-loss below 0.1070.
If price breaks below 0.1060, further downside toward 0.1025 is possible, so patience and risk control are very important here.
