Beyond this brief analysis, what caught my attention this week was the Canadian interest rate cut of 0.25 and a humble adoption of Alchemy Pay to change into Fiat, obviously Canadian.
Then I see volume, interest and strong supports. I kept watching when it visited 0.043 and with a good bounce and momentum we are at 0.051.
Updated a strong new support of interest at 0.049, 0.050 almost forgetting where 0.043 just came from. The observation is on the daily, three-day and weekly charts, which could be forming a consolidation but I never ruled out the correction since the RSI is 80 on the daily, three-day and weekly charts. Will it be real? Is there interest or could it be a whale trap? It is a salmon against the current at present
**Alchemy Pay (ACH) in Focus: Key Supports and Overbought on the Radar**
📊 **ACHUSDT** closed with an 8.18% bullish momentum, reaching **0.051185**, but the RSI at **80** suggests overbought. Support levels at **0.050** and **0.049** show strong demand, supported by significant volumes in the order book.
🔍 **Technical Analysis:**
- **High RSI:** Indicates possible correction or consolidation.
- **Strong Supports:** 0.050 and 0.049 could contain falls thanks to the high concentration of buy orders.
- **Resistances:** 0.0520-0.0530 are key levels to overcome if the momentum continues.
⚠️ **Attention:** Traders watch if the price holds the supports or if the high RSO triggers a correction.
📌 **Conclusion:** ACHUSDT shows strength, but the market is at a critical point. Monitor the key levels! 🚀
If I had an institutional eye I would expect an entry 0.041 or 0.042 but we will see what the volume says
