Alchemix (ALCX), a DeFi-focused token, has staged an impressive rebound after weeks of consolidation, showing a sharp rally that has put buyers back in control. The move has attracted attention from traders eyeing further upside potential.
๐ Technical Analysis
On the 4H chart, ALCX surged from a recent low of $8.36 to a high of $11.29 before pulling back slightly to $10.74. The trend is clearly bullish, with price action breaking through multiple resistance zones. Key support now sits at $10.15, followed by $9.50, while resistance is observed at $11.29 and $11.44.
The RSI is at 65.84, suggesting strong momentum but approaching overbought conditions. Moving averages on short-term periods (MA5 above MA10) confirm the bullish bias. Volume spikes align with the breakout, adding strength to the upward move.
Short-term outlook: Bullish unless the price fails to hold above $10.15.
๐ฐ Market Data & News
Price: $10.74 (+5.50% 24h)
24h High/Low: $11.29 / $9.92
Trading Volume: 222,606 ALCX
No major headlines today, but broader DeFi sector optimism is fueling token demand.
๐ Scenario Breakdown
Bullish Case: A clean break above $11.29 could trigger a push toward $11.44โ$12.00.
Bearish Case: Rejection at $11.29 and a drop below $10.15 could signal a retest of $9.50 or even $8.86.
๐ Sentiment Meter
๐ Bullish Momentum โ Buyers leading with strong breakout energy.
โ ๏ธ Risk Level
๐ก Medium โ Strong breakout, but overhead resistance remains a test.
Whatโs your play if ALCX reclaims $11.29 or dips under $10.15? Drop your strategy below ๐
๐ฌ ๐ Drop your chart view below ๐
๐ฌ ๐ข Comment your bias: Bullish or Bearish?
โค๏ธ Like ๐ | Share ๐ค | Follow ๐ @The_Crypto_Malik for daily 4H insights
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๐ข Not financial advice. Always DYOR and manage your risk.
