ALPH/USDT — Sideways Market with Consolidation PhaseAlephium/TetherGATE:ALPHUSDTjubileeJourney2024The candlestick chart of Alephium/Tether on a short-term time frame shows that prices are moving within a narrow range around 0.1080 without forming higher highs or lower lows. This indicates the absence of a clear uptrend or downtrend and reflects a sideways or congestion phase in the market, showing indecision between buyers and sellers. The price repeatedly declines towards the level of around 0.1078 and rebounds from this zone, indicating a strong support level. Similarly, upward price movements are restricted near the level of 0.1084–0.1085, which acts as a resistance. The repeated testing of these levels confirms the presence of horizontal support and resistance. The movement of prices within a fixed range forms a rectangle or trading range pattern, which with ICAI literature represents a period of consolidation. The presence of candlesticks with long upper and lower shadows indicates rejection of higher and lower prices, highlighting volatility and lack of dominance by either bulls or bears. With the Dow Theory, a consolidation phase generally precedes a significant price movement. The future direction of the price will be determined by a decisive breakout above the resistance level or a breakdown below the support level, preferably supported by an increase in volume.