Latest Alchemix (ALCX) Price Analysis

Deep Dive

1. Profit-Taking After November Rally (Bearish Impact)

Overview: ALCX surged 140% in November, breaking out of a multi-month accumulation phase (Yahoo Finance). The rally peaked near $14.51 on November 5 before cooling to ~$10.04.

What this means: Short-term holders likely sold to lock gains, especially with Bitcoin dominance rising to 58.57% (up 0.05% in 24h). Low liquidity (24h volume: $4.21M) magnified downside volatility.

What to look out for: Exchange balances – a further decline could signal accumulation, while increases may prolong selling pressure.

2. Risk-Averse Market Conditions (Bearish Impact)

Overview: Global crypto markets fell 2.33% in 24h amid fear-driven trading. ALCX’s 0.0008% market dominance makes it vulnerable to capital shifts toward safer assets like BTC.

What this means: The Fear & Greed Index (25/100) reflects weak altcoin demand. Derivatives data shows $84.31M in BTC liquidations, suggesting leveraged traders are exiting riskier positions.

3. Technical Weakness (Mixed Impact)

Overview: ALCX rejected the $10.72 pivot point and shows bearish MACD (-0.0229). However, it holds above the 200-day SMA ($9.18), a key support level.

What this means: The 30-day SMA ($10.71) now acts as resistance. RSI (52.13) is neutral but trending downward, signaling potential for further correction if $9.18 breaks.

Conclusion

ALCX’s dip reflects post-rally profit-taking amplified by market-wide caution and technical resistance. While mid-term fundamentals remain tied to DeFi adoption (e.g., v3 upgrade), near-term performance hinges on Bitcoin’s trajectory.

Key watch: Can ALCX hold the 200-day SMA ($9.18), or will BTC dominance push it lower?