Crypto Technical Analysis

Alpaca Finance Coin Technical Analysis: 16 February 2022

Alpaca Technical Analysis

Alpaca Finance following the 2021 bull run smashed its highs at $8.60 in Q1 2021. Woefully, the asset quickly shed most of its gains by plunging below $$0.5. However, the asset attempted pretty hard to flip the bearish trend with a rebound but could make it only to $1.77 price levels. Yet another bearish trend began ass the price smashed these levels which are continued until the press time. In other words, the ALPACA price is maintaining a serious downtrend since the second half of 2021. Will it find new support or rebound to test the upper resistance? Let’s see!

Alpaca Finance(ALPACA)/USDT Technical Analysis at a Glance

The Alpaca Finance price began the monthly trade with a healthy consolidation but quickly broke out and surged high. However, the uptrend remained limited only up to $0.4480 where-in the bears got activated and dragged the price below $0.4. Currently, the asset is trying hard to block the downtrend yet the sellers also appear to be pretty active. 

Short Term The price since the last trading day is plunging hard and is currently about to flip from the bearish divergence
Mid-Term The asset is swinging along with the average ranges, where-in the price movement will be in the direction of the accumulated volumes
Long-Term The ALPACA price flipped the bearish divergence almost a month back and may continue to follow a slow and a steady uptrend

Additional Read: What is Alpaca Finance

Alpaca Finance(ALPACA) Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Value(1Hr / 1D)
Relative Strength Index(RSI) 48.23 / 46.51 Neutral / Neutral
MACD (12 ,26) -0.0007 / -0.0088 Sell / Sell
Average Directional Index(ADX)  27.66 / 16.90 Sell / Sell
Average True Range(ATR) 0.0021 / 0.0328 Less Votality / Less Votality

Pivot Levels

Pivot Levels  Short-Term Long-Term
Moving Average(MA)-50 $0.3921 $0.4452
Moving Average(MA)-200 $0.3921 $0.7920
Resistance $0.4049 $0.8261
Support $0.3698 $0.2944

Summary

The Alpaca Finance price is extremely bearish in the short-term but somewhat bullish in the long term. The RSI in both the time frames is hovering in the middle levels without possessing any signs of heading towards either direction. Yet the MACD is extremely bearish in the long term as a huge sell signal is all set to flash. However, in the short term, an ease in the selling volume is witnessed and hence the buyers may jump in any moment. 

On the other hand, the strength indicator, ADX points out at a weakened rally in both the time frames. And the vitality indicator, ATR, indicates the price to be less volatile with minor price variations. Therefore, with minor fluctuations and weakened rallies, the asset may continue with an ascending consolidation. 

Furthermore, the pivot levels, the asset is on the verge to surpass the 50-day & the 200-day MA in the short term. Once these levels are cleared successfully, then attaining the resistance levels may not be a tedious job. Importantly, the asset needs to sustain at these levels strongly without quickly falling into a retracement phase. Only then one can expect a notable uptrend as the target to be achieved is pretty distinct, very close to $1. 

Additional Read: Daily Crypto News, February 16, 2022

Alpaca Finance(ALPACA)/USDT Technical Analysis for the Week

The asset always trended within a very narrow margin until and unless a huge influx of volume triggered an 11% jump within minutes. But woefully, almost all gains were squeezed in the very next hour. Interestingly, ever since then the asset is maintaining a notable uptrend that bought the asset close towards the previous levels around $0.4. No doubt the asset is experiencing a drain at the press time, but it may be recovered very soon.

Source: Tradingview Date: 16-02-2022 Time: 5:30pm

  • The asset has maintained a considerable uptrend since the beginning of the present week gaining more than 10%
  • Currently, a minor pullback is hindering the price rally, yet it is expected to flip strongly in the upcoming hours
  • Both the moving averages, 50 & 200 days have coincided at a point and the 50-day MA is moving towards the north signifying a ‘Golden Cross’ in short term
  • No doubt it may not impact at a large scale, but helps to flip from the bearish divergence and maintain a notable uptrend
  • Therefore, the asset may flip from the bearish divergence for a while and undertake an upturned until it attains the immediate resistance above $0.41

Alpaca Finance(ALPACA)/USDT Technical Analysis for Today: 16 February 2022

The ALPACA price began the previous day trend on a notable uptrend and maintained to hit the daily highs around $0.41 which is the crucial resistance. The asset faced a quick rejection and after a huge tussle again surged above $0.40 and again plummeted towards the current levels. At present, tough competition between the buyers and sellers has compelled the price to trade around the same levels for the past couple of hours. But the buying pressure seems to be slightly higher than the selling, therefore an uptrend may be imminent. 

The Alpaca Finance token price is around $0.3934 with a drop of 2.47% compared to the previous day’s close. The trading volume has dropped considerably by more than 27%, dragging the market capitalization also down by 2%. Yet the volume is hovering at $7.4 million while the market cap is around $55.5 million. 

Where & How to buy Alpaca Finance(ALPACA)

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Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information, or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment, or tax advice by the reader. The calculations, data, risk-return formulations, performance, or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors, or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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