Alchemix/Tether (ALCXUSDT) Market Overview

• Alchemix/Tether (ALCXUSDT) closed at 7.19, down from an open of 7.07 with a 24-hour low of 6.91 and high of 7.32.
• Momentum accelerated late in the session, with RSI reaching overbought territory near 7.28 and 7.32.
• Volatility expanded significantly during the Asian and European sessions, with a notable expansion in Bollinger Bands.
• Volume increased sharply during key price surges, confirming the move higher after a consolidation phase.
• A bullish breakout above 7.23 appears to be gaining strength, though bearish retracements have tested key support levels multiple times.

Alchemix/Tether (ALCXUSDT) opened at 7.07 on 2025-10-31 at 12:00 ET and closed at 7.19 on 2025-11-01 at 12:00 ET, trading as high as 7.32 and as low as 6.91 over the 24-hour window. Total volume amounted to 37,817.46 units, with a notional turnover of $270,204. The pair displayed a clear trend reversal in the final hours of the session, with price consolidating before a sharp move higher.

The 15-minute chart reveals a distinct consolidation phase between 7.02 and 7.09 through midday, followed by a sharp bullish breakout after 4:00 AM ET. Key resistance levels were tested and broken at 7.16 and 7.23, with the latter holding during a pullback to 7.14. The 20-period moving average crossed above the 50-period line during the afternoon, signaling a potential short-term bullish bias. Daily moving averages (50/100/200) remain in a bullish alignment, suggesting a continuation of the upward trend.

The MACD turned positive late in the session, confirming momentum to the upside, while the RSI briefly entered overbought territory above 7.28 and 7.32. A 14-period RSI line crossed above 60 in the 7.16–7.23 range, suggesting short-term bullish momentum. Bollinger Bands expanded significantly during the breakout, with price settling near the upper band as the session closed. This indicates heightened volatility and a potential continuation of the upward move.

Volume spiked during the 7.15–7.24 surge, particularly on candles that closed near the high. Notional turnover increased in tandem, confirming the price action. A divergence in volume was noted during the pullback to 7.14, with lower volume suggesting weak bearish conviction. Fibonacci retracements from the 7.02–7.32 swing identified 7.19 as a key 61.8% retracement level, where price found support before rebounding. Over the next 24 hours, a test of the 7.28–7.32 resistance zone could confirm or challenge the bullish bias, but a pullback to 7.14 would need strong volume to signal renewed bearish intent.

The MACD and RSI confirm the strength of the recent bullish move, with MACD crossing into positive territory and RSI entering overbought conditions. This suggests that traders may be positioning for a continuation of the upward trend, but caution is warranted as overbought conditions can precede pullbacks.

The recent price move aligns with a classic breakout pattern from a consolidation range, supported by key technical indicators. If this pattern is confirmed, it could serve as a bullish signal for traders. However, bearish pressure may emerge if volume does not continue to support the upward move.

Backtest Hypothesis

Unfortunately, pre-computed “Bullish Engulfing” signals for the pair ALCXUSDT could not be retrieved due to an internal data-source error. As a result, the automated backtest strategy is temporarily unavailable. To proceed, we can either:

1. Retry with an alternative symbol – If ALCXUSDT is being tested due to specific venue or liquidity constraints, let me know the symbol and I will retrieve the pattern signals and run the backtest.

2. Proceed with manual event dates – If you have manually identified or exported the exact timestamps when a Bullish Engulfing pattern occurred on ALCXUSDT, please share them here. I will then run the backtest using those inputs and provide performance metrics.

Until further data is provided, the technical indicators suggest a potential for a bullish continuation, but risk remains on the downside without confirmation from volume and key resistance levels.