$ALLO Analysis: Bearish Rejection Confirmed? 📉 Targets & SL Inside!
I’ve been tracking the #ALLO chart, and the 4H timeframe is screaming "exhaustion." After the recent pump, we've just seen a massive bearish rejection at the 0.0848 level.
Why am I Bearish? 🐻
The "Bull Trap": That long upper wick shows that buyers failed to hold the high, and sellers stepped in with heavy volume.
MA Breakdown: Price is struggling to stay above the 7-period Moving Average. A break here usually leads to a retest of the deeper support zones.
Volume Climax: The recent red volume spike suggests institutional profit-taking rather than a simple "dip."
My Short Setup:
📉 Entry Zone: 0.0725 – 0.0745
🎯 Target 1: 0.0650 (Immediate Support)
🎯 Target 2: 0.0610 (Key Demand Zone)
🎯 Target 3: 0.0550 (Major Floor)
🛑 Stop Loss: 0.0815 (Above the rejection body)
Risk Tip: If we get a 4H candle close above 0.085, the bearish thesis is invalidated. Trade smart and use proper position sizing!
What’s your move? Are you shorting this rejection or waiting for a bounce? Let me know in the comments! 👇
#ALLOUSDT #TradingSignals #Bearish #Allora #TechnicalAnalysis