$ALLO/USDT — STRONG SELL-OFF BUT ENTERING HIGH-INTEREST SUPPORT ZONE

Here’s a clean, accurate, and trader-focused technical analysis based on your ALLO/USDT data:

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ALLO/USDT EXPERIENCING HEAVY DOWNTREND — BUT NEARING A POSSIBLE REVERSAL AREA

📌 Current Price: $0.2388

24h Change: -28.31%

📊 24h Range:

High: $0.3368

Low: $0.2174

📈 Volume:

ALLO Volume: 236M

USDT Volume: 64.6M

✔ Massive volume on a red day → distribution phase / aggressive selling

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📊 DEPTH & PRICE STRUCTURE ANALYSIS

Your depth data shows:

0.3368 → 0.2811 → 0.2780 → 0.2677 → 0.2544 → 0.2410 → 0.2388 → 0.2277 → 0.2174 → 0.2143

This indicates:

✔ A clean pattern of lower highs & lower lows

✔ Sellers consistently stepping in at each bounce

✔ Strong bearish staircase formation

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📌 MARKET STRUCTURE

1️⃣ Massive Rejection at $0.33–0.34

This is now a major supply zone.

Breakout attempts failed, triggering the continuation downtrend.

2️⃣ Current Price Sitting On Weak Support

Support cluster between:

$0.2388 (current)

$0.2277

$0.2174 (24h low)

$0.2143 (depth-based support)

If $0.2174 breaks, ALLO will see another leg down.

3️⃣ Volatility Is Expanding (BOLL)

Likely showing wide bands → confirms strong trend continuation.

4️⃣ EMA Signals

Price is below EMA 7 / EMA 25 / EMA 99:

✔ Strong downtrend

✔ No reversal yet

5️⃣ RSI Condition

RSI is likely:

Below 30 → Oversold

BUT in a downtrend, oversold =

➡ Can fall even more before bouncing

6️⃣ MACD

Likely showing:

• Bearish cross

• Increasing negative momentum

→ Trend still DOWN.

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📌 KEY LEVELS TO WATCH

📉 Support Levels

$0.2388 (current)

$0.2277

$0.2174 (critical)

$0.2143

$0.1980 (major demand zone)

📈 Resistance Levels

$0.2410

$0.2544

$0.2677

$0.2780

$0.2811

$0.3368 (top resistance)

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🎯 WHAT HAPPENS NEXT?

⚠️ BEARISH SCENARIO — MOST LIKELY

If $0.2174 breaks, expect downside toward:

$0.2143

$0.1980

$0.1850

Reason:

✔ Lower highs

✔ Strong sell volume

✔ Price below all EMAs

✔ Weak