 token showed a strong bullish momentum with significant price surges and positive technical indicators.){kind=link}
- The token’s price volatility has been extremely high, resulting in 20.77%.
- The Alephium token price has outperformed 96% of the top 100 crypto assets.
In the last 30 days, the Alephium token price has traded in green for 13 days. The token’s price also outperformed 96% of the top 100 crypto assets in the last 1 year.
Price Overview Chart of ALPH | Source: CoinMarketCap
The Alephium token has less than 8% of its maximum supply circulating in the market, which resulted in a maximum supply of 1.0B ALPH. This resulted in ALPH’s circulating supply of 84.387M.
Also, the token’s fully diluted market cap was $1.967B, and the token’s maximum supply was 1.0B ALPH.
The token’s volume/market cap ratio was 2.67%, resulting in low liquidity in the token price. Alephium’s traded volume value further declined by 33% in the last 24 hours.
The token’s supply inflation was very high, resulting in 87.15%, and the token’s market cap dominance was 0.01%. ALPH’s sentiment was bullish, and the token’s fear and greed index was 71. This showed greed among the investors and the token traders.
The Alephium token’s all-time low price of $0.04655 was recorded two years ago. Since then, the token’s price has advanced by 4040%. Also, the token’s price has been down by 50% from its all-time low.
ALPH Token Technical Analysis
The ALPH token price witnessed a strong surge over the last few days.
ALPH Crypto Daily Price Chart | Source: TradingView
The price followed a strong uptrend but started to witness profit booking from the end of February 2024. The profit booking in the token price led to a decline of 70% in the trading price of the token.
That decline in the token’s price led to the formation of a descending triangle pattern.
Following the most recent ALPH token price action, a strong breakout can be seen, followed by the formation of a very strong bullish candle. Since the breakout above the pattern, the token’s price advanced by 70%.
ALPH/USD Chart by TradingView
The 50-day and the 200-day EMAs on the ALPH token price daily chart were trading in a death crossover. Despite this, the token’s price broke above those EMAs, showing a rise in the bullish momentum.
The MACD and the signal line traded in a golden crossover and advanced to a bullish trajectory. That exhibited a bullish character in the price of the token.
The RSI also hit the overbought zone at press time and traded at a level of 65.30. This again exhibited a bullish momentum in the price of the token.
ALPH Token Exhibited Strong Bullish Momentum
The Alephium (ALPH) token exhibited strong bullish momentum, with recent price surges and a breakout above key resistance levels.
Despite high volatility and profit booking in early 2024, the token rebounded significantly, showing positive technical indicators such as a golden crossover in MACD and a high RSI.
The support levels where the token’s price might take support have been $0.930 and $1.50, followed by the resistances of $3.50 and $4.0.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
