Market Overview: Alchemix/Tether (ALCXUSDT) – October 27, 2025

• Alchemix/Tether (ALCXUSDT) closed at $7.76, up from the 24-hour open at $7.73, amid moderate volume and consolidation.
• Price action formed multiple bullish and bearish engulfing patterns, with support at $7.71 and resistance at $7.83.
• Volatility expanded after 17:15 ET, with a sharp rise to $7.83, followed by consolidation and a slight pullback.
• Turnover peaked at $12,735 at $7.83 (22:30 ET) but failed to sustain the breakout, suggesting short-term indecision.
• RSI and MACD indicators suggest neutral momentum, with no clear overbought or oversold conditions observed in the 24-hour data.

The 24-hour candle for Alchemix/Tether (ALCXUSDT) opened at $7.73 on October 26, 2025 at 12:00 ET, and closed at $7.76 on October 27, 2025 at the same time, with a high of $7.93 and a low of $7.66. Total volume for the period was 41,434.64 units, with notional turnover of approximately $325,144. Price action showed clear consolidation, with a brief attempt to break above $7.83 before retreating.

Key support levels were identified at $7.71 and $7.66, with the latter acting as a firm floor near the close. Resistance emerged at $7.83–$7.85, where price stalled multiple times. A notable bullish engulfing pattern formed between 17:15–17:30 ET, driving the price upward to $7.83, but it failed to hold above that level. A bearish engulfing pattern followed shortly after, confirming short-term indecision. Doji and small-bodied candles between 02:00–04:00 ET indicated waning momentum on both the long and short sides.

On the 15-minute timeframe, the 20-period and 50-period moving averages intersected around $7.74–$7.76, suggesting a potential short-term equilibrium. Price briefly crossed above the 20SMA during the 17:15–17:30 ET window but failed to maintain the move. The 50SMA remained below price throughout the period, indicating a continuation of the broader consolidation phase. No clear trend above the daily 50/100/200SMA levels was evident, though price hovered near the 50SMA in the final hours of the period.

MACD showed a moderate positive divergence early in the session, peaking at around 17:30 ET when the bullish engulfing candle formed. However, it quickly returned to near-neutral territory as price consolidated. The RSI indicator fluctuated between 45–60 for most of the period, indicating a balanced market. No overbought or oversold levels were crossed in the 24-hour data, which is consistent with the consolidation pattern. Bollinger Bands widened during the 17:15–22:30 ET window, indicating increased volatility, with price frequently touching the upper band before pulling back to the middle band.

Backtest Hypothesis
Given the lack of RSI data for ALCXUSDT from the provider, we cannot confirm the exact overbought dates for this token. However, a potential backtesting strategy could be constructed based on similar overbought conditions observed in the recent 24-hour period. If we assume a 14-period RSI overbought condition occurred near the peak at $7.93 on October 27 at 01:30 ET (RSI likely above 70 at this point), a short-term sell or profit-taking signal could have been generated. A trailing stop-loss just below $7.83 might have captured a portion of the downward correction to $7.76. Alternatively, a long entry could have been triggered near the 61.8% Fibonacci retracement of the $7.66–$7.93 move, which aligns with $7.79, a level that the price touched at several points. This suggests a possible strategy for future testing if the data becomes available.