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ALPHA price has skyrocketed this January; in less than 30 days, it has advanced from $0.17 above $2.4. ALPHA could increase even more in the ongoing bull market if you decide to buy ALPHA, you should use a “stop-loss” order because the price could also collapse.

Alpha Finance is a decentralized protocol that supports various products and has its native coin under the symbol ALPHA. ALPHA price has exploded since the beginning of January, and for now, there is no sign of the trend reversal.

My opinion is that this is a very risky cryptocurrency, and if you decide to trade ALPHA, you should always use a “stop-loss” order.

Users can buy ALPHA tokens from an exchange such as Uniswap and Binance, but they can deposit assets on Alpha Finance’s website and earn ALPHA tokens in return for staking. It is essential to say that ALPHA tokens only act as governance tokens for the Alpha Finance ecosystem.

This project’s main goal is to create an ecosystem of products with traditional finance principles while operating in a decentralized manner. Moving forward, Alpha Finance will be introducing more products, but for now, the list remains short.

This project’s most famous product is Alpha Homora that enables its users to participate as yield farmers, ETH lenders, or liquidators.

There’s still a lot of uncertainty around this project, and the Alpha Finance platform faces several challenges. This cross-chain DeFi platform has the limited availability of products outside the Ethereum blockchain, and it could face a lack of liquidity.

This coin has made a massive jump in a short-time period, and if you decide to invest in ALPHA, you should have in mind that the price could also weaken in the upcoming days. Some analysts even say that the community from the WallStreetBets forum influenced this price move.

The main trend of this cryptocurrency remains bullish, and for now, there is no signal of the trend reversal. If the price jumps above $2.5 resistance, it would be a signal to buy cryptocurrency, and the next price target could be around $3.

On the other side, if the price falls below $1.5, it would be a firm “sell” signal and possibly a trend reversal sign.

ALPHA price has skyrocketed this January; in less than 30 days, it has advanced from $0.17 above $2.4. ALPHA could increase even more in the ongoing bull market, but if the price falls below $1.5, it would be a firm “sell” signal and possibly a trend reversal sign. My opinion is that this is a very risky cryptocurrency, and if you decide to trade ALPHA, you should always use a “stop-loss” order.

The post ALPHA price has skyrocketed this January. Should I invest in February? appeared first on Invezz.

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