Is the ALPINE Coin correction coming? What to do now?
Brothers! This wave of market at $ALPINE seems to be changing!
It just surged to 2.2666 USD and then plummeted, closing with bearish candles for several days, which is not a good sign. This position is just stuck at the upper Bollinger Band, definitely a signal of a temporary top! What’s even more heartbreaking is that it can’t even hold the psychological barrier of 2 USD; do you think this correction will be more severe than expected?
Let’s look at the technicals! The Bollinger Bands have shifted from opening upwards to pressing downwards, with the middle line at 2.0111 USD turning into a resistance line. This oscillation range seems to be switching from an upward trend to a downward mode.
The MACD has also released a signal, with the DIF line piercing down through the DEA line, and the green bars just finished shrinking before turning red again; the bearish momentum is like a dam bursting, rushing down!
Historical data shows that this pattern typically averages a 7.2% drop in three days after it appears; take your time to ponder that!
The RSI indicator is even more decisive, with three lines queuing up below the 50 midline, and the 30-minute cycle has seen three instances of top divergence; this downward momentum seems likely to persist for a while. What’s most worrying is that when it broke through the 2 USD support level yesterday, the trading volume suddenly surged; what does this indicate? The bears are not just playing around; they are seriously hammering the market!
Now the key is whether the rebound can break through the barrier of 2.011 USD. If it can’t withstand the dual pressure of the middle Bollinger Band and EMA24, then it’s likely to fall below 1.9 USD, possibly heading straight for 1.82-1.80 USD. Of course, if it suddenly surges and breaks through 2.15 USD, then forget what I said—however, what do you think the chances of that are?
