Looking at the daily K-line chart of ALE, we can observe a consolidation phase after a significant rally. The recent Gate.io listing has introduced new buying interest, as seen by the increasing volume spikes on upward movements. Technical indicators like the RSI are showing a neutral reading, suggesting that the market is not overbought or oversold at this juncture. The moving average convergence divergence (MACD) is showing a bullish crossover, indicating potential upward momentum. Traders should monitor the support and resistance levels closely. A break above the resistance could signal a continuation of the uptrend, while a drop below support might indicate a short-term correction. The order flow analysis shows clusters of buy orders near the resistance level, which could act as a catalyst for a breakout if market sentiment remains positive.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.