08 June 2023 00:10, UTC
Reading time: ~2 m
- Stella’s ALPHA market started bullish, with key support at $0.1133 and resistance at $0.1443.
- ALPHA’s price saw a 13.74% increase, trading at $0.1327.
- ALPHA’s trading volume surged, hinting at sustained bullish momentum.
Today, the Stella (ALPHA) market kicked off bullish. Soon, the bulls set support levels at $0.1133 and resistance levels at $0.1443.
Presently, ALPHA, Stella’s native token, trades at $0.1327. This represents a solid 13.74% increase over the last 24 hours. Bullish momentum carries on as we head further into the day. This is evident by the notable surge in ALPHA’s trading volume. Moreover, Stella’s market capitalization has witnessed a 13.91% hike. Now, it stands at an impressive $106 million.
ALPHA Technical Analysis
The 24-hour technical analysis indicates continued bullish sentiment for the ALPHA token. The Relative Strength Index (RSI) is on an upward journey. This movement suggests an ongoing bullish wave in the Stella market.
Furthermore, the RSI indicator currently stands at 64.14. This indicates equal selling and buying pressure in the ALPHA market. So, we can expect this bullish trend to hold its ground in the coming hours.
Further confirmation of the bullish trend comes from the Moving Average Convergence Divergence (MACD) indicator. In the Stella market, the MACD line is above its signal line. Moreover, it’s heading toward the positive side.
Such behavior suggests that ALPHA market bulls could remain in control of Stella’s market in the short term. The trajectory histogram’s formation on the positive side only amplifies this bullish optimism.
In the ALPHA/USD market, the Bull Bear Power (BBP) indicator adds to the bullish trend. It’s advancing into positive territory, currently standing at 0.0256. This upward move suggests that buyers reign in the market. Their dominance could further push prices up.
ALPHA/USD 24-hour price chart (Source: TradingView)
In conclusion, today’s trading paints a bright picture for Stella’s ALPHA token. We’ve seen a robust increase in its price and trading volume. Indicators like RSI, MACD, and BBP point to a bullish trend.
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