- ALPINE prices are consistently declining from the upper levels, forming a pattern of lower lows.
- The Alpine F1 Team Fan Token has shown a return of 50% in one year.
- The ALPINE coin has a circulating supply of 11.3 Million.
The Alpine F1 Team Fan Token (ALPINE) represents a novel addition to the world of cryptocurrencies. It is emerging as the inaugural Formula One-themed fan token offered by Binance, the largest and most widely recognized cryptocurrency exchange globally. Building on the success of Binance’s initial fan token launch with LAZIO, the ALPINE token extends a unique opportunity to enthusiasts and supporters of the Alpine F1 Team. It enables them to actively participate and connect with the dynamic world of Formula One racing.
The price of the ALPINE coin is on a downward trend, consistently making lower lows, indicating a negative pattern. The coin is currently trading at $1.78, and the total circulating supply of the coin is 11.3 million.
Based on TradingView’s analysis, the ALPINE coin peaked at $11.4 in March 2022, after which its value steadily declined. This decline has amounted to a substantial -84% drop since that peak. This resulted in an overall feeble performance for the coin.
Examining the trading volume, it is evident that the ALPINE coin has experienced a significant decline. This is highlighted by the presence of smaller red candle formations in the charts. This diminishing volume signifies waning buyer interest, increasing the likelihood of a price decline.
Over the past six months, the coin has recorded a negative return of -18.99%. It has fallen by more than 50% within a year. These statistics underscore the underwhelming performance of the ALPINE coin.
Alpine F1 Team Fan Token (ALPINE) Price Analysis
The ALPINE coin’s value trails below the 50-day and 100-day exponential moving average (EMA) levels. It indicates an emerging bearish trend, implying a possible decrease in the coin’s value in the upcoming period.
Furthermore, the moving average convergence divergence (MACD) line is situated beneath the signal line. Both lines reside in negative territory below the zero line. That signifies a fall in the coin’s value and hints at the potential for a price reduction soon.
Additionally, the relative strength index (RSI) line is currently positioned beneath the simple moving average (SMA) line. This indicates the token price’s instability and increases the chances of further decline in the coming days.
Conclusion
The analysis suggests that the ALPINE coin’s price is experiencing decreasing momentum. The value of the coin has decreased by over 50% in a year. Additionally, the indicators are giving a weak signal. Hence, the price is likely to decrease in the coming days.
Technical Levels
· Support Level – $0.14
· Resistance Level – $0.04
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.