ALLO is currently around 0.325u. These past few days it’s been rising pretty aggressively—over the last 3 days it’s jumped nearly 30%.
Sure, it’s gone up, but at this level, I’m actually not as excited as I thought I would be.
First, the good part: volume has expanded to more than double the normal level, which shows that real money is moving. The price has also bounced back from around 0.25.
The problem is at the high end.
On the spot order book, active sell orders are significantly more than active buy orders. On the futures side, active selling is also dominant. Even more clearly, over the past 3 hours spot market net outflows have been close to 52.5 million, and there hasn’t been a single candlestick with net inflow.
The price is pressing right up against resistance near 0.33 and isn’t far from the 1-day high at 0.37. Ironically, this is where the sell side is in control.
To put it plainly: this looks like an oversold rebound rally that surged into the resistance zone. Short-term volume has picked up, but follow-through hasn’t kept pace—it feels more like distribution (profit-taking) than a relay. Long positions are still there, but the number of large-holder accounts is decreasing. At this point, chasing longs isn’t a great risk-reward.
What matters now is whether, after a pullback, there will still be fresh capital to step in—or whether it can break above 0.33 on strong volume.
At this level, I’m choosing to stay on the sidelines—no chasing highs. I’ll wait for the direction to become clearer.
#allo $ALLO
Sure, it’s gone up, but at this level, I’m actually not as excited as I thought I would be.
First, the good part: volume has expanded to more than double the normal level, which shows that real money is moving. The price has also bounced back from around 0.25.
The problem is at the high end.
On the spot order book, active sell orders are significantly more than active buy orders. On the futures side, active selling is also dominant. Even more clearly, over the past 3 hours spot market net outflows have been close to 52.5 million, and there hasn’t been a single candlestick with net inflow.
The price is pressing right up against resistance near 0.33 and isn’t far from the 1-day high at 0.37. Ironically, this is where the sell side is in control.
To put it plainly: this looks like an oversold rebound rally that surged into the resistance zone. Short-term volume has picked up, but follow-through hasn’t kept pace—it feels more like distribution (profit-taking) than a relay. Long positions are still there, but the number of large-holder accounts is decreasing. At this point, chasing longs isn’t a great risk-reward.
What matters now is whether, after a pullback, there will still be fresh capital to step in—or whether it can break above 0.33 on strong volume.
At this level, I’m choosing to stay on the sidelines—no chasing highs. I’ll wait for the direction to become clearer.
#allo $ALLO