Rough action on $ALPHA today.
We saw a pretty decent run-up from the 24th, consolidating nicely, but then that massive wick popped up to $0.0229.
Classic fakeout, right?
Spiked up, probably liquidated some shorts, and then crashed back down.
Now we're sitting at $0.0165, down over 13%.
Volume looks strong, especially during that wick, but it's mostly selling pressure post-spike.
We need to see if it can hold around this $0.016-$0.017 area.
If it breaks below the 24h low of $0.0148, it could get ugly.
On the flip side, if it finds some stability here and buyers step in, we might try to reclaim some ground.
For now, looks like bears are in control.