Cryptocurrency analytics firm Alphractal has shed light on a unique on-chain metric called Alpha Price, which it describes as a “powerful” tool for identifying Bitcoin’s support and resistance zones. “The powerful on-chain metric Alpha Price is drawing support and resistance zones like magic. Currently, Bitcoin is approaching the second upper line, which has prevented the price from exceeding it consistently since December 2024,” Alphractal said in a statement. Alphractal argued that the Alpha Price model is reliable in flagging Bitcoin’s price movements and predicting key trading opportunities. The Alpha Price metric analyzes the profitability of Bitcoin’s short-term holders (STHs) and long-term holders (LTHs) relative to the overall market price. Developed by crypto analyst João Wedson, this core concept uses Fibonacci-based factors derived from the parent metric to map key levels. According to Alphractal, the Alpha Price represents the upper limit, a line that Bitcoin has rarely exceeded in its history. Lower levels derived from Fibonacci calculations provide critical support zones when the market turns. With Bitcoin currently testing the second upper line of the Alpha Price metric, Alphractal has identified several potential support levels in the event of a pullback: $84,700 $72,600 $63,600 “If for some reason the price does not resume its upward trend, these zones will act as key support levels. In such cases, the profitability of STHs and LTHs will likely adjust and the market will lose selling pressure,” the analyst firm said. Alphractal warned that the Alpha Price metric is dynamic and its levels are adjusted daily based on onchain data. *This is not investment advice. Continue Reading: Analytics Company Announces New Custom Metric: Marked Very Important Levels For Bitcoin – Here Are The Critical Price Zones
Why Story (IP) Is Up Today?
