Analysis and Trading Recommendation for AltLayer (ALT/USDT)

Basic information • Current price: $0.1958 • Market capitalization: $452,167,621 (Ranked 248) • 24h trading volume: $228,104,085 • Highest price in 24h: $0.1967 • Lowest price in 24 hours: $0.1716 • Price change within 24 hours: +$0.0178 (+10.02%) • Circulating supply: 2,310,416,665 ALT • Total supply: 10,000,000,000 ALT • All-time high (ATH): $0.6767 (Decrease -70.98%, on 28/03/2024) • All-time low (ATL): $0.0681 (Increase +188.54%, on 05/08/2024) Trend analysis

1. Recent growth: • The price has surged by 10.02% in the past 24 hours, reflecting positive market sentiment. • The price is currently near a 24-hour high, indicating high buying pressure.
2. Support and Resistance: • Nearest support: $0.1716 (lowest price zone in 24h). • Nearest resistance: $0.1967 (24-hour high price zone). • Long-term resistance: $0.220 (target if the uptrend is strong).
3. Trading volume: • Large trading volume ($228M) indicates high liquidity and great interest from the market. Trading strategy a. If the upward trend continues
4. Order Entry (Buy): • When the price exceeds $0.1970 with increased trading volume.
5. Take Profit: • Target 1: $0.210 (increasing nearly 7% from the current price). • Target 2: $0.220 (an increase of nearly 12% from the current price).
6. Stop Loss: • Place at $0.190 to limit risk. b. If the price adjusts
7. Order Entry (Buy): • When the price falls to the support zone of $0.175 - $0.180.
8. Take Profit: • Goal 1: $0.195. • Target 2: $0.205.
9. Stop Loss: • Place at $0.170 to protect capital. Technical indicator analysis
10. RSI (Relative Strength Index): • If RSI is near the 70+ level, the market may be overbought; need to monitor reversal signals.
11. MACD (Moving Average Convergence Divergence): • If MACD crosses above the signal line, it confirms the upward momentum.
12. Bollinger Bands: • If the price breaks above the upper range, confirm strong buying pressure. Summary of recommendations • Main strategy: • Buy when the price breaks $0.1970 or when the price adjusts to $0.175 - $0.180. • Price target: • Short-term: $0.210 - $0.220. • Mid-term: Monitor the ability to break through the long-term resistance level of $0.250. • Risk management: • Cut loss at $0.190 or $0.170 depending on the entry point.