#CryptoTrading. #TechnicalAnalysiss #Signal🚥.
📊Technical Analysis (1 hour) $ALLO /USDT
$ALLO - Price at ~0.0486 USDT with a 42% drop (probably in a day or session). The chart shows a sharp downtrend: a red candle with a long body, indicating strong selling pressure. The price is below key support levels (0.05–0.06), with high trading volume (24M+) confirming panic.
Indicators:
• Candles and trend: Bearish engulfing pattern — a signal of a continuation of the decline. MA(5): 0.5938M (volume), but the price broke down.
• MACD: No clear crossover, but the lines converge in the negative zone — weak momentum, a possible reversal if crossed.
• RSI: RSI(6)=40.7 (neutral, not oversold), RSI(12)=32.7 (nearly oversold) — rebound potential, but not strong.
• Volume: High spike — typical for a local bottom, but without confirmation.
General trend: Short-term — bearish (sell-off). Medium-term — possible corrective rebound if RSI does not fall below 30.
Signals
🟢Buy: Weak signal for long — wait for RSI <30 + bullish engulfing candle above 0.045. Take-profit: 0.055 (first resistance). Stop-loss: 0.042. (Probability: 40%, for speculators).
🔴Sell: Strong signal — short now at 0.0486. Take-profit: 0.042 (next support). Stop-loss: 0.052. (Probability: 70%, bearish trend).