Alchemix (ALCX$) bullish trend holding strong
Updated
Alchemix has been in an uptrend for most of 2024. As I said in a previous post, the 50-day moving average crossed above the 200-day moving average back in late November, confirming a golden cross. The subsequent upward movement we have seen in the last few months can be related to accumulation in my opinion as I do not believe we are even in a bull market, YET. I still believe that ALCX is a good buy anywhere under $40.
Currently, ALCX is holding on the trend line, walking on the 50-day moving average. Any break from here could send it down to the 200-day moving average line, somewhere in the $20 area. That would be a great time to buy at a great price. If you look at the weekly timeframe, it looks like ALCX is primed for a HUGE move upward if and when the alt-coin bull market is confirmed.
Right now ALCX faces extreme resistance at $40-$44. Once that is broken through and becomes a support, that will be a confirmation that we are headed to the next line of resistance which would be around $92 and then $130.
Personally I am holding on until $1000. Remember this is an undervalued coin with a low supply of just over 2 million. It is also a good project that has made recent improvements and is still very much active.
Currently, ALCX is holding on the trend line, walking on the 50-day moving average. Any break from here could send it down to the 200-day moving average line, somewhere in the $20 area. That would be a great time to buy at a great price. If you look at the weekly timeframe, it looks like ALCX is primed for a HUGE move upward if and when the alt-coin bull market is confirmed.
Right now ALCX faces extreme resistance at $40-$44. Once that is broken through and becomes a support, that will be a confirmation that we are headed to the next line of resistance which would be around $92 and then $130.
Personally I am holding on until $1000. Remember this is an undervalued coin with a low supply of just over 2 million. It is also a good project that has made recent improvements and is still very much active.
Note
As of right now, ALCX is in an ascending triangle pattern. According to moving averages on Weekly and Daily timeframe, ALCX is in a prime position for a major breakout above this triangle. Since the BTC halving is only weeks away, a breakout of this triangle looks to coincide with the timeline of the ALT season breakout IF/WHEN the halving bull market starts. To me, it looks like it is just teasing us to buy more. Buy more I shall. Pretty soon, anything under $40 will look like a steal.Note
Alchemix breakout confirmed.Note
We wicked up and over a major line of resistance. ALCX fell back into the triangle. The breakout and rise to $50 was fast fun to watch. It took little effort to shoot up a mere 50%. I think it is a really good sign. With the halving coming up it is obvious that there is some whale movement but this breakout will bring a lot of new buyers. I'm loading up some more and Im realistically not going to take any profits until we see a test of the $92 mark.Note
Super bullish movement alert!:Take a look at the daily chart. The 20-day MA has just bounced off the 50-day and the ribbon looks open and expanded. Ready for a big move upwards in the coming weeks. I personally believe that this one will move independent of the market, but that is just my opinion. This coin has all the makings for big time investors to make a lot of money. Hope you and I are the lucky ones to benefit from this.
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