bullish

Resistance

<ul class="wp-block-list">
 <li>AltLayer's price chart suggests a bullish reversal, with $0.16 serving as a crucial resistance level for upward momentum.</li>  
 <li>AltLayer has identified three key targets: $0.215, $0.284, and $0.42, supported by Fibonacci levels and a double-bottom pattern.</li>  
 <li>AltLayer's price consolidation below $0.16 indicates momentum building. A breakout could push the price toward $0.42 in a bullish scenario.</li> 
</ul>  
<p>AltLayer (ALT) has captured attention with its promising price chart, signaling a potential bullish reversal. Currently trading near <a href="https://coinmarketcap.com/currencies/altlayer/" target="_blank" rel="noopener noreferrer nofollow">$0.13377</a>, ALT has gained 7.20% after a prolonged downtrend. The chart reveals a double-bottom pattern, a classic reversal structure, pointing to possible upward momentum.</p>  
<h2 class="wp-block-heading" id="h-key-resistance-at-0-16-a-crucial-barrier">Key Resistance at $0.16: A Crucial Barrier</h2>  
<p>The $0.16 resistance level stands as a pivotal decision point for ALT’s price action. This horizontal resistance aligns with the <a href="https://cryptonewsland.com/scallop-sca-defi-protocol-breaks-out/" target="_blank" rel="noopener noreferrer nofollow">neckline of the double-bottom pattern</a>. Historically, ALT has faced multiple rejections at this level, underscoring its significance. A breakout here could trigger substantial buying pressure.</p>  
<p>Furthermore, Fibonacci retracement levels reinforce these targets. The first target, $0.215, corresponds to the 50% retracement level, an essential milestone. Moreover, the second target, $0.284, aligns with the 61.8% retracement level, where price reactions often occur.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXctdMeo8QyF8JZfBrsqoNJnRZcGQb_ZR81kmzNmkM8e3IipZkdkT1gvYTYgdUy1j9m7xe_UX4Q1l-ZdMjjhH8CtkXNhtK_FmoF_IpiS-DV_5Y7TL5606A6YYBB7cY1lQxI9SAL5?key=_Ref4w2Asbvz_8edUF2IQ5wz" alt="">
</figure>  
<p class="has-text-align-center"><strong><em>Source:</em></strong><em> </em><a href="https://x.com/CryptoBullet1/status/1860798417473098183" target="_blank" rel="noopener noreferrer nofollow"><em>CryptoBullet</em></a></p>  
<h2 class="wp-block-heading" id="h-bullish-scenario-with-0-42-in-sight">Bullish Scenario with $0.42 in Sight</h2>  
<p>The extended bullish scenario identifies $0.42 as a critical target. This level coincides with the 78.6% Fibonacci retracement, indicating strong upside potential. Besides, the price structure shows curved lines, highlighting support near $0.10, where buyers historically dominated.</p>  
<p>Significantly, the consolidation phase below resistance suggests a build-up of momentum. Consequently, a decisive breakout above $0.16 could open the door to these targets. Buyers appear poised to <a href="https://cryptonewsland.com/bitcoin-gains-momentum-as-altcoins-rally-on-bullish-sentiment/" target="_blank" rel="noopener noreferrer nofollow">seize opportunities as the market builds strength</a>.</p>  
<h2 class="wp-block-heading" id="h-market-sentiment-hinges-on-breakout">Market Sentiment Hinges on Breakout</h2>  
<p>Additionally, volume data could offer further confirmation of momentum. However, the analysis focuses on price structure and resistance levels. The reaction at the neckline resistance will likely dictate the short-term direction. Moreover, the market’s consolidation indicates that traders are watching the critical levels. ALT’s path to $0.42 depends on sustained bullish momentum and overcoming key resistance zones.</p> 
<p>The post <a href="https://cryptonewsland.com/altlayer-eyes-breakout-can-alt-hit/" rel="noopener noreferrer nofollow">AltLayer Eyes Breakout, Can ALT Hit $0.42 After Double-Bottom Reversal?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

AltLayer Eyes Breakout, Can ALT Hit $0.42 After Double-Bottom Reversal?

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