Alchemix (ALCXUSDT) Market Overview: Volatile 24-Hour Move Amidst Key Support and Resistance Levels

Alchemix (ALCXUSDT) opened at $10.01 on 2025-07-20 at 12:00 ET and reached a high of $10.15 before closing at $10.02 on 2025-07-21 at 12:00 ET. The price traded between $9.70 and $10.15 over the 24-hour period. Total volume was 30,621.06 ALCX, with a notional turnover of approximately $308,237.

• Price formed a bearish engulfing pattern at the high of $10.15, signaling potential short-term exhaustion.
• A key support level appears to be forming around $9.90–$9.95, with several bounces observed in the past 24 hours.
• Volatility expanded significantly in the early hours of 2025-07-21, with a Bollinger Band breakout followed by a retest.
• RSI showed overbought conditions near $10.15, later correcting into oversold territory, suggesting a possible short-term equilibrium.
• Volume spiked during the decline from $10.15 to $9.90, confirming bearish momentum.

Structure & Formations

The 15-minute chart reveals a bearish reversal pattern at $10.15, where a large bullish candle was followed by a larger bearish one, indicating a shift in sentiment. Key resistance appears at $10.15–$10.17, with support forming at $9.90–$9.95. A potential bullish counterattack was observed between $9.90 and $9.96, with a small bullish candle closing near the high, suggesting buyers may be testing this level.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages crossed into bearish territory in the early morning hours of 2025-07-21, confirming the downward trend. The 20-period MA is currently at $10.03, while the 50-period MA sits at $10.07. On the daily chart, the 50/100/200-period MAs are aligned in a neutral to slightly bearish configuration, suggesting a continuation of consolidation is possible unless price breaks decisively above $10.15.

MACD & RSI

The MACD crossed below the signal line in the early hours, reinforcing bearish momentum, with the histogram showing a strong negative divergence. The RSI reached overbought territory near $10.15 but quickly corrected into oversold territory, suggesting a short-term equilibrium could be forming. A bullish RSI divergence is emerging near $9.90, which may hint at a potential short-covering rally if buyers step in.

Bollinger Bands

Bollinger Bands showed a significant expansion during the price drop from $10.15 to $9.90, with the price breaching the lower band before retracing. The recent consolidation suggests volatility is contracting, with price hovering near the midline of the bands. A breakout above the upper band could signal renewed bullish momentum, while a retest of the lower band may trigger further short-term bearish pressure.

Volume & Turnover

Volume spiked during the early morning decline, particularly between $10.15 and $9.90, confirming bearish conviction. However, the volume during the consolidation phase has been relatively muted, suggesting a lack of strong directional bias. Turnover closely followed volume trends, with no significant divergence observed. The bearish volume pattern indicates strong selling pressure at key levels, but the lack of follow-through selling below $9.90 may indicate support is holding.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $10.15 to $9.90, the 38.2% level at $10.03 and the 61.8% level at $9.99 have both shown some resistance and support. Price appears to be consolidating around the 38.2% level, which may act as a pivot point in the near term. On the daily chart, the 50% retracement of the larger swing from the recent high to the recent low is at $10.00, which may offer some near-term directional guidance.

Alchemix may consolidate in the $9.90–$10.15 range over the next 24 hours, with a potential test of the $9.90 support level expected. A break below this level could accelerate bearish momentum, but a sustained move above $10.15 may reignite bullish sentiment. Investors should remain cautious due to the recent volatility and lack of clear directional bias.