The current market environment is in the pullback phase after a failed rally, and in this round of trends, #alpine has shown a counter-trend performance.
It looks very strong, but the underlying momentum and support are not sufficient to maintain this high position, and as this coin is a fan coin, this round of increase is merely driven by sentiment, lacking substantial positive news behind it.
From a technical analysis perspective:
MACD: The 1-hour level DIF and DEA have formed a death cross at a high position, with a reduction in the daily red bars, and obvious divergence signals in the short cycle.
RSI: The 1-hour level quickly fell back from the overbought zone, while the daily still remains in the neutral to strong region at 69.5.
EMA: The price has fallen below the 7-day moving average but remains above the 30-day line, with EMA120 on the daily as a key long-term support.
Moreover, there is significant selling pressure above.
Strategy suggestion: Enter a small short position around the current price of 2.0
