Explosive! $ALPINE stands out alone, leading the daily increase, but risks are quietly approaching!
ALPINE has currently experienced a strong surge, with prices violently rising from a low of 1.9918 to a peak of 6.0775, achieving an increase of 26.5%, currently oscillating around 5.9.
The technical outlook is very clear, with the Bollinger Bands widely opening upwards, and the K-line running along the upper track, which is a typical bullish trend.
Although the MACD is still above the zero axis indicating a bullish momentum, the red bars are shortening, which is a signal that the strength of this surge is weakening, indicating a demand for consolidation or correction in the short term.
The trading volume below fluctuates, and a surge in volume when reaching a high is a good sign, but sustained volume is needed to maintain the rise. The key support level to watch is the previous high at 5.5, with strong support in the range of 4.8 to 5.0; as long as it does not break this area, the trend has not deteriorated.
Although it is not mentioned in the chart, the strong rise is likely due to favorable news from the project party or a sector rotation; it is necessary to quickly check Twitter and community updates for any news about new listings, partnerships, etc., as this will determine how long the enthusiasm can last.
On-chain information needs to be checked with tools, focusing on whether the large addresses that accumulated early are showing signs of offloading at the top; if there are continuous large transfers to exchanges, that is a selling pressure signal.
My personal view is that the trend is still in the hands of the bulls, but in the short term, it is not advisable to blindly chase high prices; it is more suitable to wait for a correction to the support levels around 5.5 or 5.0 before considering entry. If it breaks below 4.8, caution should be exercised regarding the risk of trend reversal; the current price level needs to oscillate to digest profit-taking. Alright, this is a detailed analysis of ALPINE's trend today.
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