Market Overview for AltLayer (ALTUSDT)

• AltLayer (ALTUSDT) opened at $0.03704 and closed at $0.03501 after a 24-hour range of $0.03753–$0.03359.
• A bearish breakdown below key support at $0.03600 confirmed a continuation of the downtrend.
• High-volume selling pressure accelerated the decline, especially in the final 6 hours.
• RSI and MACD signaled bearish momentum, with RSI entering oversold territory.
• Volatility expanded with a wide Bollinger Band range, indicating heightened uncertainty.

Market Overview

AltLayer (ALTUSDT) opened at $0.03704 on 2025-07-22 12:00 ET and closed at $0.03501 by 2025-07-23 12:00 ET, with a 24-hour high of $0.03753 and low of $0.03359. Total volume reached 117.4 million, and turnover was approximately $4.2 million.

Structure & Formations

The price action formed a bearish flag pattern during the early session, followed by a breakdown below $0.03600, a key support level. A long lower shadow at $0.03501–$0.03466 in the final 15-minute candle suggests rejection of the lower bounds but lacks bullish confirmation.

Moving Averages

On the 15-minute chart, price closed below the 20-period and 50-period moving averages, reinforcing the bearish bias. The 50-period line on the daily chart also acted as a resistance, which was decisively breached to the downside.

MACD & RSI

MACD showed bearish divergence with price, especially in the last 3 hours of the 24-hour period. RSI plunged below 30, indicating oversold conditions, though a strong reversal may require a breakout above $0.03550 to confirm bullish momentum.

Bollinger Bands

Volatility expanded significantly, with Bollinger Bands widening to accommodate the $0.03753–$0.03359 range. Price closed near the lower band, suggesting a potential bounce, though without a clear reversal candle, a continuation of the bearish trend remains likely.

Volume & Turnover

Volume surged during the final 6 hours, particularly in the session from 08:00 to 12:00 ET, as selling intensified. Notional turnover spiked to $1.1 million during the 14:00–14:15 ET candle, coinciding with a sharp drop from $0.03431 to $0.03433, suggesting coordinated bearish activity.

Fibonacci Retracements

A 61.8% retracement level from the $0.03753 high to the $0.03359 low came in at $0.03490, which now acts as a potential support and pivot. If price holds above this level, a test of the 50% retracement at $0.03554 may follow.

While the bearish momentum appears to be exhausting, a strong rebound above $0.03550 could signal a short-term reversal. Investors should remain cautious, as volatility and volume suggest heightened uncertainty for the next 24 hours.