The stable downward trend since the end of November 2021 did not bypass the ALICE cryptocurrency. Having high hopes for the continuation of growth up to $34, back in September the ALICE cryptocurrency again approached the local bottom in the range of $9. The main trading volumes of ALICE are focused on the historical highs. The local downward trend is occurring on lower volumes. What is it: the end of the cryptocurrency or a volume-free correction before a new wave of growth?
ALICE cryptocurrency – the fall wave is not over yet
Buyers’ unsuccessful attempt to hold the $12 mark clearly signals a weakness in buyers at the moment. The $12 mark has played an important role in the past. We can see on the chart that after losing control of that level in September 2021, it took the buyers 2 months to gather the strength for a new upside wave. And the beginning of the local growth trend happened only after the retest of $12 in mid-November. A similar situation can be seen in August 2021. From this we conclude that for a new upward wave, it is important for the buyers to take control of the level of $12. As long as this level is under the control of the sellers, the probability of continuing the decline to $9 is quite high. Moreover, at the moment we do not see any active actions from the side of buyers neither by volumes nor by candlesticks.
The price of ALICEBTC is willing to sacrifice for 130% growth
If we analyze the global picture on the ALICEBTC price chart, we can see a large consolidation triangle. Now the sellers are trying for the third time to test the bottom trend line of this triangle. For this goal, the sellers need to lower the price of ALICEBTC by 13-15%. But if you look carefully at the previous reversals of ALICE price – all of them were very aggressive and started exactly after the test of this trend line. Therefore, we assume another final wave of fall in the ALICE market. But in our opinion it will be final before the beginning of the positive period for all investors.