🚀 $ALLO /USDT: Bullish Momentum or Local Top? 📈
$ALLO is showing some serious life today, up over 7.5% and currently trading around 0.0957! Looking at the 1-hour chart, we’ve seen a solid recovery from the 0.0842 lows, but the road ahead has some interesting hurdles.
The Technical Breakdown:
Price Action: We just touched a 24h high of 0.1030. Since then, we've seen a slight pullback as traders take profits near that psychological 0.10 level.
Moving Averages: * The MA(7) (Yellow) is currently at 0.0978, acting as immediate overhead resistance.
The MA(25) (Pink) at 0.0932 is providing strong short-term support. As long as we hold above this, the intraday trend remains bullish.
Volume: We saw a massive spike in buying volume during the push to 0.10. The current "red" volume bars show some selling pressure, but it looks like healthy consolidation after a big move.
What’s Next?
🎯 Target 1: A clean break and close above 0.0980 could send us back to retest the 0.1030 resistance. 🛡️ Support: Watch the 0.0930 - 0.0915 zone closely. If we lose this, we might see a retest of the MA(99) (Purple) near 0.0875.
The AI narrative is heating up—is $ALLO ready for the next leg up? 🤖💎
What’s your move? Buying the dip or waiting for a breakout? Let me know below! 👇
#ALLO #CryptoTrading #TechnicalAnalysis #BinanceSquare #Altcoins $ALLO
