My Neighbour Alice token (ALICE/USD) was trading over 5% high on Tuesday and after trading in a tight range last week it is looking like a rally could be seen soon. Alice is a coin with some great tokenomics and is a Gamified finance-based token. It has several functions such as Play to earn, purchase in-game items, Staking rewards and Governance. Alice saw a sharp rally in November wherein the price rocketed from $10 to almost $30, however, Alice was not able to sustain the rally and fell right back to where the rally started. It is looking like Alice will have another go at breaking the previous high soon, which could be seen soon. Thus should you buy Alice now?
Here is what the charts are suggesting-
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Alice fell sharply after a huge rally in November, however, it has taken support from the start of the previous rally which is a positive sign.
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Alice has been trading in a tight range in the past few days which was indicating that it was accumulating for a large move.
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The RSI was also forming a bullish divergence, which is pointing towards a breakout soon.
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Alice has taken support from the 200-day moving average and is showing signs of reversal from the support zone at $11.
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It is looking like Alice will rally towards the resistance at $16 soon and thus investors can set that as the first target.
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Investors must be cautious as Alice can still break down from the support level thus a stop-loss must be maintained.
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Investors can also wait for volumes to increase which will confirm the bullish bias in Alice.
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After $16, Alice could also hit $24 in the coming months, however, investors must trail the price to avoid getting caught in a false breakout like November.
