ACHUSDC Bounces From 0.00744 — Can It Hold the Morning Star?

Summary
• Price tested key support near 0.00744 before rebounding, forming a bullish morning star.
• Strong volume surge at 02:45 ET confirmed a reversal as price climbed from 0.00741 to 0.00752 in 1 hour.
• RSI approached overbought after 02:00 ET, suggesting momentum slowdown ahead.
• Volatility remained elevated, with price staying near Bollinger Band upper edge for much of the session.

Alchemy Pay/USDC (ACHUSDC) opened at 0.00754, hit a high of 0.00773, a low of 0.00744, and closed at 0.00751. Total volume reached 10.6 million USDC, with a notional turnover of approximately $8,100.

Structure & Formations

Price tested a key support level at 0.00744 multiple times, forming a bullish morning star pattern around 02:00 ET. A 5-minute bullish engulfing pattern emerged at 03:15 ET as price surged from 0.00748 to 0.00757, signaling short-term bullish momentum.

Moving Averages and Trend Direction

On the 5-minute chart, the 20-EMA crossed above the 50-EMA in the early morning, reinforcing the bullish bias. Daily moving averages suggest a neutral to slightly bearish bias, with the 50-DMA acting as a key resistance.

Momentum and Oscillators

RSI peaked near 68 at 04:00 ET, suggesting short-term overbought conditions. MACD remained positive through 04:30 ET but showed a bearish divergence with price, indicating potential reversal risk.

Volatility and Bollinger Bands

Bollinger Bands showed a clear expansion in the early morning, with price staying near the upper band from 02:00 to 04:00 ET. This suggests increased volatility and potential for a pullback in the near term.

Volume and Turnover

Volume spiked to 571,727 USDC at 02:15 ET, coinciding with a sharp price increase from 0.00748 to 0.00749. Notional turnover also increased during this period, validating the strength of the rebound.

Fibonacci Retracements

The 61.8% retracement level of the morning decline (from 0.00773 to 0.00741) aligned closely with the 0.00755 level, which price approached but failed to hold, suggesting resistance in that range.

Price may face renewed pressure to consolidate around the 0.0075–0.00755 range over the next 24 hours. Investors should monitor the 0.00744 support level and watch for a potential retest of the 0.00755 resistance. Volatility remains elevated, and sudden moves could occur if volume diverges sharply from price action.