Some fans have asked whether the current trend of $ALPINE is bullish or bearish! Personally, I am more inclined to be bearish, and my analysis logic is as follows:
1. The price has dropped by 4.22% during the day, while just the previous day there was a significant increase of 64.04%. This kind of trend, where there is a sharp rise followed by a pullback in a short period, is a typical profit-taking pattern.
2. From the 4-hour chart perspective, the price has reached the MA7 moving average level. Once this short-term support is broken, it is very likely to accelerate downward to test the support strength of the MA15 moving average. At the same time, the bearish candlestick pattern appearing at high levels further reflects that bearish forces are gradually strengthening.
3. Currently, there are only 6,277 addresses holding this cryptocurrency, indicating a highly concentrated distribution of chips. In this situation, if large holders begin to reduce their positions, it could easily trigger a chain reaction of selling. Additionally, the trading volume of 1.7773 billion within 24 hours has consumed short-term market liquidity, leading to uncertainty in the subsequent buying capacity.
