My Neighbor Alice (ALICE) Sees Astonishing Surge as Altcoin Market Recovers ๐
Amid the ongoing altcoin recovery led by Ethereum (ETH), My Neighbor Aliceโs (ALICE) price has risen more than 83 percent in the past three weeks to reach a new multi-month high. According to the latest crypto oracles, ALICEโs price against the US dollar rallied more than 50 percent on Monday to hover around $2.3 on Tuesday during the early Asian session.
The notable ALICE spike on Monday was fueled by heightened tradersโ demand. At the time of this reporting, its daily average traded volume was more than double its market capitalization.
Specifically, ALICEโs daily average traded volume was around $514 million, and its market cap was about $213 million.
ALICE Creators Opt for Market Actions ๐
As the ALICE price signaled an inevitable rally to a new all-time high (ATH), which attracted more swing traders, on-chain data showed a different trend from the insiders. According to on-chain data analysis provided by market intelligence firm Lookonchain, several of My Neighbor Alice vesting wallets deposited more than 2 million ALICE units, worth more than $5.4 million, on Binance crypto exchanges.
The accelerated market dump from the ALICE insiders does not necessarily imply a bearish outlook but traders should closely monitor the underlying price action.
Price Action Unfolds ๐
After an impressive rally on Monday, ALICEโs price against the US dollar is currently acting on a major resistance/support level of around $2.3. The small-cap altcoin saw its daily Relative Strength Index (RSI) spike to 70, suggesting that the bulls are in control.
If the ALICE buyers push beyond the current resistance level, the altcoin will easily pump towards $3.35, which also coincides with the 1.618 weekly Fibonacci Extension.
The ALICE Ecosystem Is Expanding ๐ฑ
The My Neighbor Alice team has been busy building the infrastructure to onboard more users through non-fungible tokens (NFTs). According to market data provided by Dappradar, the game has about 1.14k unique active wallets.
Hot Take: Your ALICE Investment Strategy ๐ฅ
Considering the recent surge in ALICE’s price and the market actions taken by insiders, it is important for you to stay vigilant as the price action unfolds. Keep a close eye on the resistance level around $2.3 and monitor whether the bulls can sustain the momentum to push the price towards $3.35.
Additionally, with the growing ecosystem and developments in the NFT space, the future potential of My Neighbor Alice looks promising. Make informed decisions and adapt your investment strategy accordingly to capitalize on the opportunities in the ALICE market.
Cino Gaperi stands out as a prominent crypto analyst, accomplished researcher, and adept editor, making significant contributions to the field of cryptocurrency. With a strong background in crypto analysis and research, Cino’s insights delve deep into the intricate aspects of digital assets, appealing to a diverse audience. His keen analytical skills are complemented by his editorial proficiency, allowing him to distill complex crypto information into easily digestible content. Cino’s contributions serve as a valuable compass for both seasoned enthusiasts and newcomers, guiding them through the dynamic landscape of cryptocurrencies with well-researched perspectives. With a commitment to precision, he empowers informed decision-making within the ever-evolving crypto sphere.
