$ALLO is showing relative strength, climbing +7.58% to $0.0735 over the past 24 hours while the broader market trends lower. In a weak tape, that kind of outperformance matters — it signals active demand rather than passive drift.
What’s driving the move?
Primary catalyst:
A clear high-volume momentum push, with 24h volume jumping ~60% to $55.56M. Rising price + expanding volume confirms participation. This isn’t a thin bounce — liquidity is backing the move.
Secondary factor:
A technical relief rally after extended weakness. ALLO has been down nearly 40% over the past 60 days, leaving it deeply oversold. Markets often mean-revert after prolonged drawdowns, especially when shorts get crowded.
From a structure perspective:
Price is attempting to reclaim short-term support around $0.07
Momentum is improving, but trend structure is not fully repaired yet
This still looks like a counter-trend bounce unless continuation confirms
Near-term levels to watch:
Support: $0.07 (key pivot level)
Resistance: $0.08 (next supply zone)
If ALLO holds above $0.07 with sustained volume, a push toward $0.08 becomes a realistic short-term target. However, a loss of $0.07 would likely invalidate the bounce and open the door to continuation of the broader downtrend.
Right now this is a momentum-driven recovery attempt — continuation depends entirely on whether buyers can maintain pressure above reclaimed support.
#ALLO #AltcoinSeason #Crypto #MacroInsights
