📉
$ALLO Short Setup: Momentum Exhaustion at Key Resistance
After a massive recovery rally,
$ALLO (Allora) is showing signs of fatigue. We are seeing a clear rejection from local highs, with a series of lower highs forming on the 1-hour and 4-hour timeframes.
The "buy the dip" aggressive bids are cooling off, and the risk-to-reward ratio now favors the bears for a healthy pullback.
🚩 Technical Breakdown:
Momentum Loss: Trading volume is declining while price struggles to break previous resistance.
Bearish Structure: A clear rejection at the $0.140 zone indicates that sellers are stepping back in.
Target Zones: Looking for a retest of the $0.11 - $0.10 support levels where the previous breakout originated.
⚡ Trade Strategy (SHORT)
🎯 Entry Zone: 0.134 – 0.139
🎯 Take Profit 1: 0.122 (Initial Support)
🎯 Take Profit 2: 0.112 (Key Fibonacci Level)
🎯 Take Profit 3: 0.101 (Major Psychological Level)
⚠️ Stop Loss: 0.147 (Above recent swing high)
Trader’s Note: Keep an eye on Bitcoin's volatility. If $BTC makes a sudden move, it could invalidate this setup. Use proper risk management and don't over-leverage!
Is
$ALLO ready for a deep correction, or is this just a pit stop before another leg up? 💬 Let me know your thoughts in the comments!
#ALLO
#Allora #ShortSignal #CryptoTrading #TechnicalAnalysis #TradingTips