- The APLH price has risen by 40% in the past 10 days and exceeded the 20-day EMA.
- That trading volume has surged by 100% in the past 24 hours.
Since November 2023, the ALPH price has been bullish and has gained around 1800% till the last week of February 2024. The bullish trend was disturbed near the $4 hurdle, and the momentum was shifted to the sellers’ hands.
From the beginning of March, the Alephium price has performed negatively and has declined in the lower lows and lower highs format. Based on the chart structure, the price fell by forming lower and lower highs. However, recently, sellers have failed to generate new lower lows.
Here, sellers seem weak, and the price has displayed a reversal as it has surpassed the key moving averages. ALPH has managed to defend the major support level of $1.50 and has shown bullishness.
The Alephium crypto was being traded at $1.90 at press time, up by 2.63% in the past 24 hours. The market capitalization was $163.50 Million, and the 24-hour trading volume is $2.98 Million.
Technical Indicators
The MACD has triggered a golden crossover with the Signal line, and the histograms have flipped to green. The RSI has generated a bullish crossover and is heading toward the overbought zone.
Is ALPH Crypto Going to Blast Next Month?
A source on X claimed that the ALPH crypto price has generated a bullish scenario. The price has triggered a strong pullback in a weekly time frame, expecting a big move next month. If buyers show interest, its immediate target would be the $2.25 and $3.10 mark.
$Alph sur le long terme 🚀
— Dim Trading (@lildim426) August 27, 2024
Point d'entré avec retest des 1,37 $
TP 1 : 2,25 $
TP 2 : 3,10 $ pic.twitter.com/lGih7jAQ0g
Technical Analysis of APLH Crypto Price Over 1-D Timeframe
The Alephium price has shaped a head and shoulder pattern on a daily time frame. The price has generated the second shoulder and has reached the neckline. If the price surpasses the neckline, it would be a buying opportunity, and the price may perform positively further.
Based on the technical chart, APLH price has found the bottom and is ready for a reversal. It would be crucial for the price when it reached the $2 mark.
Strong buying momentum can be seen if the digital asset price surpasses the $2 mark and trading volume increases. Suppose the chart structure attracts investors; buyers may be eyeing for a new all-time high.
On the other hand, buyers might panic if the price resists the $2 mark. Strong selling pressure can be expected if the price forms a bearish candlestick in this territory.
APLH Price Forecast
The ALPH price seems to have shown some positive signs of a potential reversal. The technical indicators are pointing towards a bullish scenario, and a big move is expected next month.
However, it’s important to keep an eye on the $2 mark, as it will be a crucial moment for the price.
If the price surpasses this level, we might see strong buying momentum and a potential new all-time high. On the other hand, facing resistance at the $2 mark could lead to selling pressure.
Disclaimer
This article is for informational purposes only and provides no 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.
