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$ALPINE's recent market performance has attracted investors' follow. After reaching a high of 2.2666, the price has fallen consecutively and has broken below the key psychological level of 2.0, which may signal the formation of a top.
Technical analysis shows that the Bollinger Bands are sloping downwards, with the middle line at 2.011 becoming a new resistance level, indicating that the market may shift from a sideways trend to a downward trend. The MACD indicator has recently formed a death cross, with the green bars turning red, suggesting that bearish momentum is increasing. According to historical data, after this signal appears, the average drop within three days can reach up to 7.2%.
The RSI indicator's three lines have all fallen below the 50 midline, and there have been three instances of a top divergence in the 30-minute timeframe. These signs all indicate that the downward trend may persist for a while. Recently, when the price fell below 2.0, the trading volume noticeably increased, showing that the bears are actively attacking, which is different from a normal pullback.
The short-term support level may be around 1.900, while the medium-term target range could be between 1.82 and 1.80. However, if the price unexpectedly breaks through 2.15, it may indicate that the bearish structure has been broken, and investors need to stop losses in a timely manner.
For investors looking to short, it is recommended to use a small position (such as 5% of funds) to experiment and set the stop-loss above 2.15. However, it is important to remember that the cryptocurrency market carries high risks, and investors should approach it rationally, set stop-losses in a timely manner, and not be overly attached.
The market trends change rapidly, and investors should closely follow market dynamics and adjust their strategies in a timely manner. At the same time, it's important to pay attention to the overall changes in the cryptocurrency market, as the trends of individual tokens are often closely related to the overall market trend.