What Does Alephium (ALPH) Price Structure Highlights On the D-TF

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On July 30th, 2022, the Alephium (ALPH) had its all-time low ever, where it registered its price at $0.0466, and as of writing, the price traded comparatively 3350% higher than its all-time low.

Meanwhile, the ALPH registered its all-time high ever at $3.862 by February 25th, 2024, and comparatively, it has traded nearly 50% down from its peak.

On the daily chart, the indicators are all positive for the crypto, as both EMA's have already been surpassed by ALPH's price thrust. Likewise, the histogram of the MACD indicator stands at 0.0960, where the MACD line stays at 0.0236, and the signal line stands at -0.0723. The RSI has reached 71.82 and entrance to extremely overbought territory, which could be a point of concern. So investors and traders have advised DYOR.

Furthermore, proceeding with its price action, it has been witnessed that the price has spiked from the historical crucial level, from where it last gave a massive return of more than 300% earlier in the start of 2024.

Similarly, from its price action, the formation appears a bullish pattern, precisely the falling wedge pattern, and in the past 24 hours, a witnessed surge appears as a breakout of this pattern. If the surge continues to pump upside, then the resistance that lies ahead is at $2.20 and $3.00, respectively.

however, in the contrary case of decline, then the bears could have an eye towards the support at the $1.46 and $1.00 mark.