Friends, how are you all? I hope you are all well and surviving amidst this market fluctuation. While trading today, my eyes suddenly caught sight of the ALLO token chart. Looking at its movement and internal data, it seemed like something quite interesting was happening here, so I thought I would share what I saw with you in a simple way.
Today was quite a dramatic day for this token. If you look at the chart of the last 24 hours in the morning, you will see that the market took a big hit. The price gradually dropped to $0.1093, which was a big drop for this coin and close to an all-time low. However, the hope is that the market will not stay there. Buyers have become active again from the bottom and are currently trying to stabilise the price around $0.1179. That is, the market is now in a recovery mood after overcoming the morning panic.
However, what concerns me more than the chart, which seems positive, is the internal money flow. I checked the data and saw a strange scene. Ordinary traders or those with less funds are panicking and selling in fear of seeing the market fall. However, big investors or whales are taking advantage of this opportunity.
The data says that more than seven hundred thousand dollars have been bought or inflowed in large orders, while small ones are only being sold. Experience in the crypto market says that when the general public flees in fear, and the big ones accumulate goods at the bottom, the market usually prepares to turn around from here.
If we talk about future prospects, I think the token is now standing at the very end of its support or floor price. Since its market cap is low but volume is high, if buyers push a little more from here, we could see a good uptrend or bounce back very quickly.
The current price is not bad for taking an entry because there is little room to go down from here, but there is a lot of room to go up. But of course, keep in mind that this is the crypto market, so don't make a hasty decision and take a look at the chart yourself. I thought it was worth sharing, so I'm sharing it. Happy trading.
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