ALPH/USDT — Short Term Technical AnalysisAlephium/TetherGATE:ALPHUSDTjubileeJourney2024Based on the ICAI technical analysis approach, the ALPH/USDT chart on the 15 minute timeframe reflects short-term bearish dominance followed by stabilization at lower levels. The chart opens with a sharp vertical decline, represented by a long bearish candle, which indicates aggressive selling pressure and a sudden shift in market sentiment. Such a move, as per ICAI principles, often reflects panic or strong supply entering the market, overwhelming existing demand. Following the sharp fall, price attempts minor upward retracements, but these are weak and fail to sustain, confirming the presence of lower highs, which keeps the short-term trend bearish. The subsequent candles show price moving sideways within a narrow range, highlighting a temporary balance between buyers and sellers after the decline. This consolidation occurs below the prior breakdown level, suggesting that the market is absorbing supply rather than reversing trend. Volume spikes during the initial fall and reduces during the sideways movement, which aligns with ICAI observations that strong moves are usually supported by higher volume, while consolidation reflects uncertainty and lack of fresh participation. The repeated testing of the same price zone without a decisive upward breakout suggests weak buying strength, and the structure does not yet meet the conditions required for a trend reversal. Overall, the chart depicts a bearish impulse followed by consolidation, which, under ICAI framework, is typically interpreted as a pause within a prevailing downward move unless confirmed otherwise by a higher high and sustained buying strength.