Is $ALCX preparing for an upcoming rise or a false breakout?
ALCX/USDT Analysis (1 Day Frame)
Current Price: $9.97
Daily Change Percentage: +1.94%
Major Technical Signals:
The price rebounded from previous support at $9.34
Currently trading cautiously below the 10 and 5 moving averages
RSI at 55.26 → Fluctuating state but slightly leaning towards positive
MACD in negative territory but has started to slow down → Possible entry into a reversal phase
Candlesticks show weakness in the upward momentum despite slight improvement
What is happening?
The coin is trying to confirm a breakout of resistance at $10.00 but the volume is weak
Buying at this stage without confirmation may carry short-term risk
Suggested Trading Strategy (Immediate):
Entry Point: Only after closing a daily candle above $10.10 with high volume
First Target: $10.70
Second Target: $11.20
Stop Loss: $9.30 with daily close
Note:
In case of failure to break out and the price remains below $10.00, we may witness a retest of the 9.30 – 9.00 area again
Question for Followers:
Do you think ALCX can break $10.50 soon? Or is the momentum not enough?
