Summary
• Price consolidated near 1.3e-07 to 1.4e-07 range for most of the session.
• A sharp selloff occurred in early morning ET with a 10% drop in 45 minutes.
• Volume surged during the selloff, but reversed without confirmation.
• RSI and MACD show weakening momentum with no clear trend formation.
• Bollinger Bands remain tight, indicating low volatility and potential for a breakout.
Altlayer/Bitcoin (ALTBTC) opened at 1.4e-07 (12:00 ET – 1), hit a high of 1.4e-07, a low of 1.3e-07, and closed at 1.3e-07 at 12:00 ET. Total volume reached 1,525,078.0, with notional turnover reflecting the price proximity and volume scale.
Structure & Formations
The price remained tightly range-bound for much of the 24-hour period, with minimal movement between 1.3e-07 and 1.4e-07. A bearish breakout appeared at 04:45 ET, marked by a long lower wick and a sharp drop from 1.4e-07 to 1.3e-07, followed by consolidation. A doji formed near 1.3e-07 during the morning, signaling indecision.
Moving Averages
Short-term moving averages on the 5-minute chart (20/50) remained flat, reflecting the sideways action. Daily moving averages (50/100/200) are not clearly defined due to the low volatility and limited historical data for ALTBTC.
MACD & RSI
The RSI remains near 50, indicating neutrality with no strong overbought or oversold signals. MACD has been flat and below its signal line, suggesting fading bullish momentum and no clear direction.
Bollinger Bands
Bollinger Bands remain narrow, showing no sign of volatility expansion. Price has remained inside the bands without testing either boundary, suggesting a continuation of consolidation or a possible breakout attempt.
Volume & Turnover
Volume spiked during the morning selloff, with over 415k traded at 04:45 ET, and again in the late afternoon. However, the price failed to follow through on the bearish break, suggesting potential rejection of the lower support. No significant divergence between price and turnover was observed.
Fibonacci Retracements
The key 38.2% and 61.8% retracement levels from the recent 5-minute high at 1.4e-07 align with the consolidation area near 1.3e-07. The price may test these levels again in the next 24 hours, potentially triggering a reversal or continuation.
Looking ahead, traders may watch for a breakout from the 1.3e-07–1.4e-07 range and confirmation from volume and momentum indicators. A break below 1.3e-07 could test deeper support, but risks of false breakouts and whipsaw action remain high.
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