$ALLO is showing impressive strength after reclaiming the $0.38 level and pushing more than 11% higher in the last 24 hours.
📍 Entry Zone: $0.3800 – $0.3870
🛑 Stop Loss: $0.3450
🎯 Targets:
• $0.4650
• $0.5400
• $0.6150
The technical picture is looking interesting. Price has broken above the 1-hour upper Bollinger Band, signaling strong momentum and volatility expansion. Buy-side pressure remains dominant, while negative funding suggests many shorts could still be trapped.
Open Interest dropped during the rally, which may indicate short covering or profit-taking, but the overall trend remains bullish as long as support holds. RSI is elevated, yet it hasn't reached extreme overbought conditions.
For me, the bullish setup stays valid above $0.3450. A break below that level would invalidate the trade idea.
What's your outlook on $ALLO? 🚀