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🚀 What Caused the Most Recent Altlayer(ALT)Pump?
📅 June 16–17 Price Surge
• Surprised Upbit Listing: ALT skyrocketed ~50–105% intraday on June 16, driven by its debut on South Korea’s top crypto exchange, Upbit .
• Volume Explosion: Daily volume surged from ~$10M to over $200M, signaling massive institutional and retail interest .
• Whale Accumulation: Notable transactions included whales acquiring millions of ALT at ~$0.04, reinforcing bullish on‑chain sentiment .
🌍 Broader Crypto Market Boost
• Altcoin rally fueled by wider gains in BTC and ETH, especially amid optimistic signals around U.S. Bitcoin and Ethereum ETFs .
🔧 Technical Catalysts
• Technical indicators like MACD, RSI, and MFI flipped bullish, reflecting intense capital inflows. ALT broke key resistance levels—but now hovers in overbought territory .
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📈 Short-Term Outlook
• Momentum Wave: Analysts anticipate resistance in the ~$0.05–$0.06 range if volume persists .
• Overbought Warning: With RSI around ~70, some traders expect a short-term retracement back to the $0.03–$0.04 zone .
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✅ Summary
• Pump driver: Upbit’s listing of ALT on June 16 triggered a 50–105% rally due to increased liquidity, whale accumulation, and altcoin market enthusiasm.
• Volume: Daily trading surged from ~$10 M to over $200 M.
• Technicals: All-in signals tempered by overbought levels, suggesting possible downside ahead.
