Altcoin Market Breaks Long-Term Downtrend as RSI Approaches Breakout
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Coinmarketcap
- Market Trend Reversal: The altcoin market has broken a months-long downtrend, with technical indicators suggesting a potential new phase, indicating improving market sentiment and potential rebound opportunities for investors.
- RSI Indicator Near Breakout: The Relative Strength Index (RSI) has formed a descending triangle pattern that is nearing its end, and a breakout could trigger upward momentum across altcoins, warranting close monitoring by investors.
- Volume and Support Zone Pressure Relief: The volume and support zones in the RSI indicate reduced selling pressure, reflecting possible compression in the market, which may precede larger volatility, prompting investors to prepare for potential shifts.
- Price Structure Aligns with RSI: The price structure of altcoins aligns with the RSI trend, currently sitting near the lower support boundary of the triangle; while no breakout has been confirmed, signs of market change are emerging, making it essential for ongoing observation.
Analyst Views on ALT
Wall Street analysts forecast ALT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALT is 13.00 USD with a low forecast of 12.00 USD and a high forecast of 14.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 5.380
Low
12.00
Averages
13.00
High
14.00
Current: 5.380
Low
12.00
Averages
13.00
High
14.00
About ALT
Altimmune, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing next-generation peptide-based therapeutics. It is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity, metabolic dysfunction-associated steatohepatitis (MASH) and other indications. Activation of the GLP-1 and glucagon receptors is believed to mimic the complementary effects of diet and exercise on weight loss, with GLP-1 suppressing appetite and glucagon increasing energy expenditure. Glucagon is also recognized as having direct effects on hepatic fat metabolism, to rapid reductions in levels of liver fat and serum lipids. The Company has completed the MOMENTUM Phase II obesity trial and is being studied in the IMPACT Phase IIb MASH trial. The Company also develops and commercializes surfactant-functionalized (EuPort domain) incretin-based peptide therapeutics, including (GLP-1-glucagon)/oxyntomodulin, and variants.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
