ShawnMCR

ALPHA - Consolidation (As you asked)

BINANCE:ALPHAUSDT   ALPHA / TetherUS
What you're seeing here is a consolidation after breakout.
The price broke out but now it's building up a volume of Supply & Demand to confirm the breakout.
The more volume on supply, the more correction to lower prices.
But right now the Demand volume is higher so I'm predicting a retest at the resistance area soon.
Watch the prices for now and don't open any positions, but if you're looking into opening long positions, then wait until a 4H candle closure above the resistance area .
Target and Support areas are shown on chart.
⚠️ NOTE: This usually happens when a coin gets hot on crypto platforms: it might go down by a little and then get back up to a new high.
Good Luck 🎲
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