In this Alchemix technical analysis, we will examine the current price action, trading volume, key levels and indicators for ALCX-USDT. 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 lending, borrowing, and trading. ALCX also features a novel liquidity pool mechanism that allows users to earn rewards in a more efficient and sustainable way. With its innovative approach to DeFi, Alchemix (ALCX) is poised to revolutionize the way we think about financial services in the digital age.
Alchemix Price Overview:
As of May 16, 2024, Alchemix is trading at approximately 23.75 USDT. Let’s dive into the detailed price action for ALCX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 24.53 |
| High (H) | 24.97 |
| Low (L) | 23.56 |
| Close (C) | 23.75 |
| Volume (C) | 43,555.28 |
- Open (O): The opening price for today’s trading session was approximately 24.53 USDT.
- High (H): Alchemix reached a daily high of around 24.97 USDT.
- Low (L): The daily low for ALCX-USDT was approximately 23.56 USDT.
- Close (C): At the time of analysis, Alchemix is trading near its daily close of 23.75 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.14% |
| 3D Change (%) | 3.22% |
| 7D Change (%) | -2.90% |
| 30D Change (%) | -9.21% |
| 90D Change (%) | -10.58% |
| YTD Change (%) | -26.49% |
Over the past three days, ALCXUSDT has risen by approximately 3.22%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -2.90%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ALCXUSDT maintaining a downward trend of approximately -9.21%, despite intermittent fluctuations. Examining the last 90 days, ALCXUSDT has witnessed substantial decrease of approximately -10.58%, reflecting strong long-term confidence. Year-to-date, ALCXUSDT has steadily dropped by around -26.49%, 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-USDT 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 0.55573.
- Momentum score is -0.08337.
ALCX USDT Technical Analysis
Alchemix Trading Volume:
The trading volume for Alchemix (ALCX) over the past 24 hours has been insignificant, with approximately 43,555.28 USDT 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-USDT is currently in the low zone, around 44.69044. This suggests that Alchemix is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Alchemix (ALCX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Consider bearish sentiment in Alchemix (ALCXUSDT) at 23.75 USDT with technical analysis, showcasing weakened support and cautionary indicators.
For a deeper dive into the subject, don’t miss our comprehensive analysis on ALCX BTC Alchemix Technical Analysis if you found this post intriguing.
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.