Analysis of AKE Token Price Plunge
- Massive Transfers: AKE's price has sharply declined in recent days primarily due to large-scale token transfers to Binance Alpha, where market manipulators sold tokens through both the exchange and on-chain addresses, resulting in consecutive price drops.
- Initial Transfer Impact: Approximately three days ago, 3.944 billion AKE tokens were transferred to Binance Alpha and sold for about $1.22 million, causing the AKE price to drop from $0.0005 to $0.0003, representing a loss of around 40% in value.
- Escalating Transfers: In the last few hours, manipulators transferred another 9.825 billion AKE tokens worth about $2.24 million, with ongoing sales through on-chain addresses, further intensifying market selling pressure.
- Continued Price Decline: Following this new wave of selling, the AKE price fell from $0.0003 to $0.0002, marking an additional loss of approximately 33%, indicating a severe lack of confidence in the AKE market.
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Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00409 | 0.00476 | 0.00545 | 0.00612 | 0.00681 | 0.00748 | 0.00817 |
| Fibonacci | 0.00476 | 0.00528 | 0.0056 | 0.00612 | 0.00664 | 0.00696 | 0.00748 |
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