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AltLayer’s native token, ALT, recorded a sharp rally on Monday, June 16, forming a notable breakout candle ahead of its listing on South Korea’s leading exchange, Upbit. 
According to data from crypto.news, AltLayer (<a href="https://crypto.news/price/altlayer/" target="_blank">ALT</a>) surged by 104% intraday, reaching a high of $0.051 before retracing to $0.033 at press time. Despite the pullback, ALT remained up 35% on the day, with its market cap at approximately $117 million, marking its highest valuation since early February. 
ALT gained traction after it secured a <a href="https://upbit.com/service_center/notice?id=5239" target="_blank">listing</a> on <a href="https://crypto.news/tag/upbit/" target="_blank">Upbit</a>, a tier-1 crypto exchange in South Korea. 
Listings on major centralized exchanges often drive short-term price appreciation as they expand liquidity access and investor reach. However, such listing-induced <a href="https://crypto.news/sonic-poised-for-deeper-correction-ahead-despite-a-potential-coinbase-listing/" target="_blank">rallies can also be short-lived</a>, as early participants frequently lock in gains once the news is priced in. 
Notably, the Upbit announcement was met with aggressive whale accumulation. As <a href="https://x.com/koreaOnchain/status/1934784084938780817" target="_blank">highlighted</a> by Korean market commentator Yoonseok, one whale acquired 1.6 million ALT tokens shortly after the listing news broke. Another whale <a href="https://x.com/1DesyDonald/status/1934550699968180382" target="_blank">reportedly</a> purchased 2.93 million ALT at an average price of $0.04. 
Such large inflows are often interpreted by retail investors as bullish signals, reinforcing upward price momentum. 
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Speculative appetite was evident in the derivatives market as well, with Coinglass <a href="https://www.coinglass.com/currencies/ALT" target="_blank">data</a> showing a 383% surge in open interest for ALT futures, with the long/short ratio remaining above 1. This means traders were predominantly taking long positions in hopes of further price appreciation. 
At the same time, onchain data from Santiment reported a sharp rise in daily active addresses, climbing from just 110 to over 10,500 in the past two days. The spike in user activity was accompanied by a positive shift in weighted social sentiment and a notable increase in Google search trends, indicating broader retail engagement. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1482" height="574" src="https://crypto.news/app/uploads/2025/06/Screenshot-2025-06-17-123014.png" alt="Here’s why AltLayer crypto is up 35% today - 13" class="wp-image-14389365">
 <figcaption class="wp-element-caption">
 Source: Santiment
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="alt-price-analysis">ALT price analysis</h2> 
On the 4-hour USDT chart, both the MACD and RSI indicators are trending higher, suggesting strengthening bullish momentum. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1805" height="847" src="https://crypto.news/app/uploads/2025/06/ALTUSDT_2025-06-17_12-27-29.png" alt="Here’s why AltLayer crypto is up 35% today - 14" class="wp-image-14389363">
 <figcaption class="wp-element-caption">
 ALT price, MACD and RSI chart — June 17 | Source: <a href="https://crypto.news/price/altlayer/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
Price action also shows that ALT remains above both the 50-period and 100-period EMAs, with the 50-day EMA having recently crossed above the 100-day EMA, a bullish crossover typically interpreted as a signal for trend continuation. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1805" height="847" src="https://crypto.news/app/uploads/2025/06/ALTUSDT_2025-06-17_12-01-18.png" alt="Here’s why AltLayer crypto is up 35% today - 15" class="wp-image-14389361">
 <figcaption class="wp-element-caption">
 ALT 50-day and 100-day EMA chart — June 17 | Source: <a href="https://crypto.news/price/altlayer/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
ALT is currently hovering above the $0.031 support level, which aligns closely with the May high of $0.044, now acting as a reference support zone. 
If the token manages to rebound from current levels and sustain bullish momentum, a potential move toward $0.055 remains likely, a roughly 66% increase from the current price level. 
Conversely, if the price breaks below the immediate support at $0.031, the next key level to watch would be around $0.023, which marked a local low on June 13. A decline toward this level would suggest a weakening of short-term bullish sentiment and may trigger further downside pressure. 
 Read more: <a href="https://crypto.news/zkj-crypto-price-pumps-20-is-this-a-dead-cat-bounce/"> ZKJ crypto price pumps 20%: is this a dead cat bounce? </a> 
 Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Here’s why AltLayer crypto is up 35% today

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