Alephium (ALPH) has weakened from $4.04 to $2.14 since February 27, 2024, and the current price stands at $2.40. This correction can be attributed to a combination of profit-taking, market saturation, and speculative trading dynamics.
A slowdown in net inflows and decreased trading activity are certainly negative factors for ALPH and according to JPMorgan analysts, the cryptocurrency market still remains in “overbought territory. But where is the price of Alephium (ALPH) going next, and what can we expect from April 2024?
Today, Crypto Lists will discuss Alephium (ALPH) price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk, and how much margin you have if trading with leverage.
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- 1 Committed to enhancing scalability, security, and decentralization
- 2 POLW consensus performs
- 3 Alephium implemented a carefully designed token model
- 4 Technical analysis for Alephium (ALPH)
- 5 Important support & resistance levels for Alephium (ALPH)
- 6 What speaks for the rise in the Alephium (ALPH) price
- 7 What indicates further downfall for Alephium (ALPH)
- 8 What do analysts and experts say?
Committed to enhancing scalability, security, and decentralization
Alephium (ALPH) is a blockchain project dedicated to enhancing scalability, security, and decentralization. As a dynamic solution tailored for real-world use, Alephium incorporates groundbreaking sharding and an efficient Proof-of-Less-Work (POLW) consensus mechanism.
Alephium’s journey from inception to its present state is marked by a succession of notable milestones, demonstrating the project’s dedication to innovation and advancement. The journey began with the public release of the whitepaper in February 2019, setting the groundwork for the development of a dynamic and technologically sophisticated blockchain platform.
Alephium’s dedication to maintaining a leading position in blockchain technology is apparent through its continuous endeavors. In March 2023, the project reached numerous milestones, such as introducing a prototype for a decentralized exchange (DEX), debuting the Browser Wallet Extension, and executing cross-chain interoperability.
Now let’s describe some technical specifics that make Alephium special. Alephium employs the BlockFlow algorithm, a pioneering and extensive sharding method that boosts the scalability of its network and according to the team behind this project, this enables a throughput of up to 10,000 Transactions Per Second (TPS).
POLW consensus performs
At the same time, the Proof of Less Work (POLW) consensus mechanism dynamically adjusts the work required to mine new blocks, resulting in Alephium using less energy compared to similar blockchain projects.
What also makes Alephium unique is the fact that Alephium improves on chain structure with its custom Virtual Machine (VM), Alphred. This addresses significant issues found in current dApp platforms, improving security, development processes, and introducing novel concepts such as trustless peer-to-peer smart contract transactions.
Alephium has its programming language, Ralph, similar to Rust syntax and this language simplifies the creation of efficient and secure smart contracts, specifically tailored for Decentralized Finance (DeFi) applications.
By combining all of these innovations, many crypto analysts agree that Alephium offers a highly sought-after solution — a scalable blockchain that improves on established ideas, providing reliable, powerful, and secure capabilities for DeFi and dApps.
Supply: 66,183,024 / 1,000,000,000
Release date: December 1, 2022
Description: Discover Alephium and be part of the cryptocurrency revolution.
Risk warning: Trading, buying or selling crypto currencies is extremely risky and not for everyone. Do not risk money that you could not afford to loose.
Alephium implemented a carefully designed token model
Alephium implemented a carefully designed token model with a hard cap of 1 billion tokens. The initial distribution included 140 million tokens mined during the Mainnet Launch, while the remaining tokens will be mined over an estimated period of 80 years.
ALPH is the native token of Alephium and it serves as the lifeblood of the network. It facilitates transactions, provides incentives for miners, and drives the expansion of the Alephium ecosystem. Possessing ALPH grants voting rights on network upgrades and proposals, rendering it an essential component of Alephium’s decentralized governance.
While still in its early stages, many crypto analysts agree that Alephium showcases significant potential to transform blockchain scalability. Its unique blend of security, sharding technology, and innovative features positions it as a strong contender in the race for mass adoption.
Whether ALPH emerges as one of the leaders in scalable blockchain solutions remains uncertain, yet its progress is unquestionably compelling to observe. Investors should always keep in mind that the world of blockchain is ever-evolving, and Alephium stands among the many exciting projects. As usual, investors should conduct thorough research before making any investment choices.
Technical analysis for Alephium (ALPH)
After hitting recent highs above $4 on February 27, 2024, Alephium (ALPH) has encountered losses of more than 40%. The price is currently above $2, but a break below this level would indicate that ALPH could test the support level at $1.5. Some analysts say that more investors could sell ALPH in the weeks ahead and as long the price of ALPH is below $3, the price of this crypto remains in the SELL-ZONE.
Important support & resistance levels for Alephium (ALPH)
On this chart (the period from January 2024), I marked important support and resistance levels that can help traders understand where the price could move. The risk of further declines for ALPH is still not over, but if the price jumps above $3, the next target could be resistance at $4. The important support level is $2, and if the price breaks this level, it would be a “SELL” signal, and the next target could be the strong support that stands at $1.50.
What speaks for the rise in the Alephium (ALPH) price
The upside potential for ALPH probably remains limited for the upcoming weeks; still, if the price advances above $3, the next target could be resistance at $4. A move above $4 would be beneficial for the bulls to remain in control of price movement. The overall sentiment on the cryptocurrency market plays a very important role in ALPH’s price trajectory, and if investors regain confidence further, an upside potential could benefit Alephium (ALPH).
What indicates further downfall for Alephium (ALPH)
Alephium (ALPH) is unpredictable and a highly risky investment, and because of this, investors should continue to be very cautious in the case of this cryptocurrency. The decline in Bitcoin’s value had also a negative impact on Alephium (ALPH) and when Bitcoin, as the leading cryptocurrency, experiences a significant decline, it usually leads to overall negative sentiment across the entire market. The crypto market sentiment is dented again and there has been a significant drop off in the number of whale transactions for ALPH. When whales reduce their trading activity, it usually indicates that they are losing confidence in the underlying coin’s short-term price prospects.
What do analysts and experts say?
Many crypto analysts agree that Alephium (ALPH) could have a bright future because it offers a highly sought-after solution — a scalable blockchain that improves on established ideas, providing reliable, powerful, and secure capabilities for DeFi and dApps. While still in its early stages, its unique blend of security, sharding technology, and innovative features positions it as a strong contender in the race for mass adoption. Whether ALPH emerges as one of the leaders in scalable blockchain solutions remains uncertain and investors should consider that its price can fluctuate dramatically over short periods, leading to substantial gains or losses for investors. It’s essential to conduct thorough research, understand the risks, and only invest what you can afford to lose when considering investing in ALPH.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.
