Market Overview for Alchemix/Tether (ALCXUSDT) – 24-Hour Analysis

• ALCXUSDT edged higher over 24 hours, closing near intraday high with moderate volume
• Price action showed late-day volatility, with a sharp rise above $8.50 amid increased turnover
• RSI suggested growing momentum, but no overbought conditions flagged
• Bollinger Bands widened, indicating rising volatility ahead of key levels

The 24-hour period for Alchemix/Tether (ALCXUSDT) saw a modest but sustained rise in price, opening at $8.40 on 2025-09-22 at 12:00 ET and closing at $8.54 on 2025-09-23 at 12:00 ET. The pair reached a high of $8.64 and a low of $8.30 during the session. Total volume amounted to 21,254.79 and total turnover was $175,115.97, indicating increased interest and activity compared to recent sessions.

The 15-minute candlestick chart showed a series of bullish formations, including a notable bullish engulfing pattern forming just before the $8.54 high. Key support levels appeared at $8.40 and $8.36, while resistance formed at $8.54 and $8.62. The 20-period and 50-period moving averages both trended upward, with the price currently above both, suggesting a continuation of the uptrend.

RSI reached 62 at the close of the session, indicating moderate bullish momentum without reaching overbought territory. MACD crossed above the signal line during the late morning hours, suggesting a potential continuation of the upward trend. Bollinger Bands showed a period of contraction during the early hours, followed by a noticeable expansion as the price surged past $8.50, indicating a rise in volatility.

Volume increased notably during the late hours, particularly between 06:45–07:00 ET, with a large volume spike during the candle that saw the price rise from $8.52 to $8.57. Turnover also spiked in the same period, confirming the strength of the move. A divergence was not observed between price and volume, reinforcing the trend's legitimacy.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement levels to the recent 15-minute move from $8.30 to $8.62, key levels include the 38.2% at $8.48 and the 61.8% at $8.54. The current close near $8.54 suggests that the pair may test the 61.8% level as a potential barrier for the next 24 hours. On the daily chart, the 50-period moving average sits at $8.45, indicating that the current rally has brought the price into a stronger accumulation phase.

Backtest Hypothesis

The proposed backtest strategy involves entering long positions on ALCXUSDT when the price breaks above the 20-period moving average and the RSI crosses above 50, with a stop-loss placed just below the most recent swing low. A target is set at the 61.8% Fibonacci level following a confirmed bullish pattern. This strategy aims to capitalize on early-stage momentum and trend continuation. The recent candlestick behavior aligns with this hypothesis, particularly the bullish engulfing pattern and the RSI crossing above 50 on a strong volume base. If the strategy were applied, it would have triggered a long entry during the morning hours of 2025-09-23.