Over the past three weeks, the price of My Neighbor Alice (ALICE) coin skyrocketed by more than 83%. This is a new high in recent months.
This bullish momentum continued on Monday, with prices surging more than 50% against the US dollar. On Tuesday morning (Asian session), ALICE was around the encouraging $2.30 level.
Rising ALICE Trading Volume
What was behind this impressive rally? It seems that it was the surge in demand from traders that fueled ALICE's spirit. At the time of writing, ALICE's average daily trading volume is more than double its market capitalization.
That's a fantastic daily volume of $514 million compared to a market cap of about $213 million. This intense trading activity indicates strong investor interest in ALICE.
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Will this rally continue?
While price movements show a bullish trend, on-chain data paints a slightly different picture.
According to market intelligence firm Lookonchain, multiple My Neighbor Alice vesting wallets recently deposited over 2 million ALICE tokens (worth over $5.4 million) into Binance.
This on-chain activity suggests some insiders may be profiting. The accelerated sale of large amounts of assets by ALICE insiders does not necessarily indicate the prospect of a price decline, but traders should closely monitor price movements below it.
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ALICE Price Towards $3.35?
After Monday's impressive rally, ALICE is currently around the important resistance/support level of $2.30. The altcoin's daily Relative Strength Index (RSI) is also at a healthy 70, indicating strong buying pressure.
If buyers can push ALICE past this resistance level, the next stop could be at $3.35, which is in line with the weekly Fibonacci Extension of 1.618.
The Growth of My Neighbor Alice Game Users
The My Neighbor Alice team is actively working to attract new users through non-fungible tokens (NFTs). Dappradar data shows that the game has around 1,140 unique active wallets. This continued development bodes well for the future of the ALICE ecosystem.
Conclusion
The significant increase in the price of ALICE is worth watching. The combination of high trade demand, continued development, and the potential for the next resistance level at $3.35 is becoming the main driving factor.
However, investors need to pay close attention to insider activities that offload their asset holdings, as well as observe price movements below them to get a more complete picture.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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