ALPHA Support/Resistance Zones and Price Targets
We can see that ALPHA has been in a strong daily uptrend since October, 2020. ALPHA is up approximately 7,000% in 125 days!!!
ALPHA recently made a higher high so I suspect ALPHA is now working on putting in a higher low.
Currently, ALPHA is sitting on daily vertical support, which has confluence with the 0.236 Fibonacci and the green 55EMA.
If price closes below the 0.236 Fibonacci and 55EMA, then I suspect price will come down to the next support zone.
If price flips the 21EMA into support, hidden bullish divergence may be confirmed. This should initiate a move up to the next resistance zone at $2.15.
On the 4H, we can see that price has found support right above the 0.618 Fibonacci. This is a key level of significance. I am bullish on this asset as long as it is closing above the 0.618 Fibonacci. Further, if price closes above the prior 4H high at $1.77, then I suspect price will head up to the next resistance zone.
However, if price closes a 4H below the 0.65 Fibonacci, then I suspect we'll see a move down toward the next level of support at $0.95.
Daily stochasticshave recently flipped up and will remain crossed up as long as price is closing above $1.433. 66% of the time daily stochastics cross up, price follows.
RSI is currently in the neural zone. For a bullish continuation, I'm looking for a bounce from this zone. There is massive 'potential' hidden bullish divergence on this chart. A daily close above about $1.70 should confirm hidden bullish divergence.
ALPHA Fibonacci Targets
If price starts closing above the prior ATH, then I will be targeting these Fibonacci extensions!
The daily Fibonacci extension targets come in at:
1.618: 3.66
2.618: 5.35
3.618: 7.03
4.236: $8.08
4.618: $8.72
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Guide to My Charts
-The purple horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
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Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
ALPHA recently made a higher high so I suspect ALPHA is now working on putting in a higher low.
Currently, ALPHA is sitting on daily vertical support, which has confluence with the 0.236 Fibonacci and the green 55EMA.
If price closes below the 0.236 Fibonacci and 55EMA, then I suspect price will come down to the next support zone.
If price flips the 21EMA into support, hidden bullish divergence may be confirmed. This should initiate a move up to the next resistance zone at $2.15.
On the 4H, we can see that price has found support right above the 0.618 Fibonacci. This is a key level of significance. I am bullish on this asset as long as it is closing above the 0.618 Fibonacci. Further, if price closes above the prior 4H high at $1.77, then I suspect price will head up to the next resistance zone.
However, if price closes a 4H below the 0.65 Fibonacci, then I suspect we'll see a move down toward the next level of support at $0.95.
Daily stochasticshave recently flipped up and will remain crossed up as long as price is closing above $1.433. 66% of the time daily stochastics cross up, price follows.
RSI is currently in the neural zone. For a bullish continuation, I'm looking for a bounce from this zone. There is massive 'potential' hidden bullish divergence on this chart. A daily close above about $1.70 should confirm hidden bullish divergence.
ALPHA Fibonacci Targets
If price starts closing above the prior ATH, then I will be targeting these Fibonacci extensions!
The daily Fibonacci extension targets come in at:
1.618: 3.66
2.618: 5.35
3.618: 7.03
4.236: $8.08
4.618: $8.72
---
Guide to My Charts
-The purple horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
