ALCXUSDT Breaks Below $6.80 Amid Surging Volatility

Summary
• Price action formed bearish engulfing patterns around $6.80, with intraday low at $6.67.
• RSI dipped into oversold territory below 30, suggesting potential near-term bounce.
• Volatility expanded through Bollinger Band widening, with volume surging during downward moves.
• Turnover increased during late ET hours, but price failed to close above key resistance at $6.81.

Alchemix/Tether (ALCXUSDT) opened at $6.80 on 2026-01-26 12:00 ET, reached a high of $6.96, a low of $6.67, and closed at $6.72 on 2026-01-27 12:00 ET. Total volume was 12,185.59 and notional turnover was $82,155.97 over the 24-hour window.

Structure and Key Levels

Price showed bearish pressure after a failed attempt to break above $6.81, with a series of engulfing candles and a breakdown below $6.80. A 61.8% Fibonacci retracement level from the 6.67 to 6.96 swing sits near $6.76, offering potential support. Resistance appears at $6.81, with prior failed attempts to close above it.

Moving Averages and Momentum

On the 5-minute chart, price has traded below the 20-period and 50-period moving averages, indicating short-term bearish bias. MACD lines showed bearish divergence during the late ET sell-off, with RSI dipping into oversold territory but showing no strong reversal confirmation yet.

Volatility and Volume

Bollinger Bands widened through the session, indicating rising volatility, especially during the early ET sell-off. Volume surged in the 21:15–22:00 ET range as price broke below $6.80. Notional turnover rose significantly during this period, though price failed to confirm the bearish breakout above $6.81.

Fibonacci and Short-Term Outlook

Intraday swings from $6.67 to $6.96 offer key Fibonacci levels at $6.76 (61.8%) and $6.84 (38.2%). A rebound from $6.67 could test this 61.8% level, but a sustained break below $6.75 would signal deeper weakness.

Over the next 24 hours, a test of the $6.76 level may offer a short-term bounce opportunity, though a sustained break below this could target $6.70. Investors should remain cautious of further consolidation or a continuation of the bearish bias if volume remains high.