After checking $ALLO , I feel like the market is at a really interesting point right now.
When you look at the daily percentage (-7%), it seems like the bulls have completely lost control. But the derivatives data tells a slightly different story. After a sharp drop in Open Interest to almost zero, the market has effectively gone through a major leverage washout. Usually, these moments either kick off a new impulse or set the stage for a longer consolidation.
What caught my eye: • Whales are still holding long positions (1.44:1). • Major liquidity is currently stacked above the current price in the $0.41–0.43 zone. • After the downward sweep, the price quickly bounced back above the $0.38 support, which looks like a reaction to liquidity grab.
Personally, I don't see an ideal spot for an aggressive entry right now. I'm more interested to see if ALLO can hold above $0.40. If it does, the market might start moving towards the liquidity zone of $0.42–0.43, where the nearest target for buyers lies.
So far, it doesn't look like a strong trend, but more of a battle between those taking profits after the pump and those trying to build a position after the market has cleaned out excess longs.
Trading $ALLO 👇
When you look at the daily percentage (-7%), it seems like the bulls have completely lost control. But the derivatives data tells a slightly different story. After a sharp drop in Open Interest to almost zero, the market has effectively gone through a major leverage washout. Usually, these moments either kick off a new impulse or set the stage for a longer consolidation.
What caught my eye: • Whales are still holding long positions (1.44:1). • Major liquidity is currently stacked above the current price in the $0.41–0.43 zone. • After the downward sweep, the price quickly bounced back above the $0.38 support, which looks like a reaction to liquidity grab.
Personally, I don't see an ideal spot for an aggressive entry right now. I'm more interested to see if ALLO can hold above $0.40. If it does, the market might start moving towards the liquidity zone of $0.42–0.43, where the nearest target for buyers lies.
So far, it doesn't look like a strong trend, but more of a battle between those taking profits after the pump and those trying to build a position after the market has cleaned out excess longs.
Trading $ALLO 👇