I haven't seen any signs of a bottom forming, fam, $ALLO there's still potential for more selling pressure 🔥
Short $ALLO
Entry: 0.228 - 0.232
TP1: 0.218
TP2: 0.205
TP3: 0.192
SL: 0.242
$ALLO has now dropped below both the EMA7 and EMA25 after that strong pump earlier. The MACD is still declining and the red histogram is widening, indicating that selling pressure isn't letting up. The RSI6 has plunged deep into oversold territory, signaling that the bulls are completely losing control in the short term. The price is continually rejected when it tries to bounce back to the EMA25, showing that the selling pressure remains very strong. Volume is gradually decreasing during the bounces, proving that the buying interest is still quite weak. Even though the EMA99 is providing support below, it's likely that the coin has one more deep correction left before it stabilizes.
Trade reliability: 82%
Click to trade now before you miss out 👇
Short $ALLO
Entry: 0.228 - 0.232
TP1: 0.218
TP2: 0.205
TP3: 0.192
SL: 0.242
$ALLO has now dropped below both the EMA7 and EMA25 after that strong pump earlier. The MACD is still declining and the red histogram is widening, indicating that selling pressure isn't letting up. The RSI6 has plunged deep into oversold territory, signaling that the bulls are completely losing control in the short term. The price is continually rejected when it tries to bounce back to the EMA25, showing that the selling pressure remains very strong. Volume is gradually decreasing during the bounces, proving that the buying interest is still quite weak. Even though the EMA99 is providing support below, it's likely that the coin has one more deep correction left before it stabilizes.
Trade reliability: 82%
Click to trade now before you miss out 👇