The price of My Neighbor Alice (ALICE) could be set for a major bounce against Tether (USDT) and to hit $5. 

Ethereum price saw a relief bounce from $1,600 to $1,800 ahead of merge sentiments leading to other altcoins like My Neighbor Alice bouncing off from their weekly lows. (Data feeds from Binance)

Price Analysis Of ALICE On The Weekly Chart
Weekly Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

From the chart, the price of ALICE saw a weekly low of around $1.9, which bounced from that area and continued in a range of $1.9 -$3.

The price has built more momentum as it faces resistance at $3.

If the price of ALICE on the weekly chart continues with this bullish structure, it could quickly hit the $5 mark.

The volume shows decent buy bids, pushing the price of ALICE higher.

 

Weekly resistance for the price of ALICE – $3.

Weekly support for the price of ALICE – $1.9.

Price Analysis Of ALICE On The Daily (1D) Chart
Daily Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

The price of ALICE found strong support at around $1.92, with what seems to be an area of interest on the daily chart.

ALICE bounced from its support, forming a ranging channel between prices $1.92 – $3.2 with more buy bids lately.

At the point of writing, the price of ALICE is at $2.72, trying to break out of the channel faced with resistance of $3.2 and trading above the 50 exponential moving averages (EMA), which corresponds to the resistance at $2.65. 

If the ALICE price fails to break the channel and falls below the 50 EMA region, $1,92 would be a good support to hold sell-offs and a possible price bounce.

With more buy bids, we could see the price of ALICE breaking out above $3.2, which has been resistance on the weekly chart.

The RSI for the price of ALICE on the daily chart is above 50, indicating healthy buy bids for ALICE.

The volume for ALICE looks good, indicating positive signs for prices to trend higher.

 

Daily (1D) resistance for ALICE price – $3.2.

Daily (1D) support for ALICE price – $2.65, $1.9.

Price Analysis Of ALICE On The Four-Hourly (4H) Chart
Four-Hourly Price Chart Analysis For ALICE | Source: ALICEUSDT On Tradingview.com

The price of ALICE has shown a range in a channel on the 4H chart, as the price faces rejection at $3.2.

ALICE price is $2.7, trading below the 50 but above the 200 EMA with prices of $2.8 and $2.6 on the 4H chart. This 200 EMA price would be a support area for ALICE on the 4H chart.

Four Hourly (4H) resistance for ALICE price – $3.2.

Four hourly (4h) support for ALICE price – $2.6, $2.1.

 

Featured Image From Teknone, Charts From TradingView.com