Alchemix/Tether Fails to Hold $5.63 Spike Amid Mixed Momentum

Summary
• Price moved between $5.54 and $5.67, forming key support near $5.56 and resistance near $5.63.
• Volume spiked sharply at $5.563, confirming short-term buying pressure.
• RSI hovered near 50, indicating balanced momentum without clear overbought/oversold signals.
• Bollinger Bands showed a slight expansion, signaling increasing volatility after a consolidation phase.

Alchemix/Tether (ALCXUSDT) opened at $5.55 on 2026-02-07 at 12:00 ET, reaching a high of $5.67 and a low of $5.54 before closing at $5.55 at 12:00 ET on 2026-02-08. The 24-hour trading volume was approximately 17,243.87, with notional turnover of $96,735.96.

Structure & Formations

Price action over the 24-hour period showed a clear consolidation phase between $5.56 and $5.63 before retreating. A bullish engulfing pattern formed around 21:15 ET, briefly breaking above $5.65 but failing to hold. Key support appears at $5.56–$5.57, with resistance at $5.62–$5.63.

Momentum & Volatility

The RSI remained in the midrange, fluctuating between 48 and 56, indicating mixed momentum. MACD showed a weak positive divergence in the late hours, but it lacks conviction. Bollinger Bands widened as the price moved toward the upper band late into the session, suggesting a potential reversal or a continuation could follow.

Volume & Turnover

Volume spiked at 01:30 ET, with 1,772.26 units traded, pushing the price to a high of $5.67. Notional turnover surged alongside, confirming the move. However, the subsequent pullback saw lower volume, indicating reduced conviction.

Key Levels & Projections

On a 5-minute chart, the 20-period and 50-period moving averages converged near $5.59–$5.60, reinforcing that level as a key pivot. A 50-period MA crossover above the 200-period line on the daily chart would be a positive sign for longer-term buyers.

A break of $5.63 could attract further buyers, but a retest of $5.56 may serve as a critical filter before a new directional move. Investors should watch for a decisive move above $5.65 or a breakdown below $5.54 as signals for potential trend continuation or reversal.

Looking ahead, the next 24 hours may see renewed volatility if the pair tests the $5.63–$5.65 range. A failure to hold above $5.56 could trigger a pullback toward $5.52–$5.54, where early support may hold.