The post AltLayer Price Likely to Experience Volatility with Upcoming $115 Million Token Release appeared on BitcoinEthereumNews.com.

AltLayer, an open and decentralized protocol for rollups, has seen a sharp decline over the past 24-hours. The altcoin is hovering below the $0.15 support level amid a broader bearish market trend. AltLayer price is trading at $0.1325 during a U.S. trading session, marking a 7.99% decrease.  The 24-hour trading volume has spiked by 21%, reaching $36 million. According to CoinMarketCap data, AltLayer’s market cap has also fallen by 8% to $145 million, reflecting investor hesitation in a volatile market environment. AltLayer Price Dips Below Key Support Level Amid Market Uncertainty Over the past week, Altlayer (ALT) has seen a significant drop of 11.41% in its value. The cryptocurrency is trading downward, experiencing fluctuations within a narrow range between $0.1274 and $0.1464 over the last 24 hours.  From its peak in March 2024, when it reached an all-time high of $0.6881, the token has substantially declined by 80.%. This recent downturn in value mirrors the broader volatility and challenges the cryptocurrency market faces. Looking at the monthly chart for Altlayer (ALT), the cryptocurrency has experienced a significant decrease, shedding over 31% of its value in the past month. This downtrend culminated in hitting an all-time low of $0.1138 on July 8, 2024, barely 18 days ago.  Potential Price Scenarios for ALT Amid Market Volatility AltLayer is experiencing a pronounced decline in a bearish market. If this trend persists, its token will likely stabilize at $0.13.  If market conditions deteriorate further, there’s a risk that its value could decrease to $0.12, reflecting a stronger bearish impact. A more severe downturn could potentially push the price down to $0.1. Conversely, increasing investor confidence might propel ALT into a bullish phase. A reversal in market sentiment could see AltLayer breaking through the $0.15 resistance level. Continuing on this path, the cryptocurrency might reach…

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Filed under: News - @ July 26, 2024 8:26 am