In this Alchemix technical analysis, we will examine the current price action, trading volume, key levels and indicators for ALCX-BTC. Alchemix (ALCX) is a decentralized finance (DeFi) platform that enables users to earn rewards in the form of cryptocurrencies by participating in various financial activities such as liquidity provision, staking, and yield farming. ALCX also features a novel token-based governance system that allows holders to vote on proposals for the development and growth of the platform. With its innovative approach to DeFi and robust tokenomics, Alchemix is poised to revolutionize the way we think about financial services in the digital age.
Alchemix Price Overview:
As of May 07, 2024, Alchemix is trading at approximately 0.0004 BTC. Let’s dive into the detailed price action for ALCX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00039 |
| High (H) | 0.0004 |
| Low (L) | 0.00039 |
| Close (C) | 0.0004 |
| Volume (C) | 515.39 |
- Open (O): The opening price for today’s trading session was approximately 0.00039 BTC.
- High (H): Alchemix reached a daily high of around 0.0004 BTC.
- Low (L): The daily low for ALCX-BTC was approximately 0.00039 BTC.
- Close (C): At the time of analysis, Alchemix is trading near its daily close of 0.0004 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.44% |
| 3D Change (%) | 2.05% |
| 7D Change (%) | 4.92% |
| 30D Change (%) | -29.26% |
| 90D Change (%) | -24.92% |
| YTD Change (%) | -47.97% |
Over the past three days, ALCXBTC has risen by approximately 2.05%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 4.92%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ALCXBTC maintaining a downward trend of approximately -29.26%, despite intermittent fluctuations. Examining the last 90 days, ALCXBTC has witnessed substantial decline of approximately -24.92%, reflecting strong long-term confidence. Year-to-date, ALCXBTC has steadily decreased by around -47.97%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Alchemix Live Chart:
You can access a live price chart for ALCX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.48413.
- Momentum score is -0.03018.
ALCX BTC Technical Analysis
Alchemix Trading Volume:
The trading volume for Alchemix (ALCX) over the past 24 hours has been insignificant, with approximately 515.39 BTC traded against ALCX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ALCX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Alchemix is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ALCX-BTC is currently in the low zone, around 44.37694. This suggests that Alchemix is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Alchemix (ALCX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Consider bearish sentiment for Alchemix (ALCXBTC) at 3.99e-04 BTC as technical analysis emphasizes weakened support and cautionary indicators for potential downturns.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.