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Is now a good time to buy Alice? Charts point to a potential rally

After a 73% surge in price at the end of October Alice (ALICE/USDT)  could be ready for its next leg up.

Alice has consolidated in November and is almost on the verge of breaking out, and this could be a great time for investors to enter.

  • Alice has formed a symmetrical triangle and after a strong closing on Sunday, Alice is about to break out.

  • The RSI is also slowly increasing showing that the buyers are increasing which may lead to the breakout soon.

  • However, investors must wait for an increase in volumes as they could get caught in a false breakout.

  • Many other coins have formed a similar structure to Alice and have also broken out and shown some great moves, even Alice could break out in a similar way.

  • A breakout will be confirmed once Alice is able to cross $17.6, however, investors could also wait for a re-test before entering.

  • A target of $20.6 can be set, however, investors should be cautious of the supply zone at the previous high of $24.

  • A stop-loss can be maintained at $14.

Conclusion

Alice could be a great breakout pick however investors must wait for a breakout above $17.6 before entering as Alice could still test the lower trendline before breaking out.

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