$ALCH / USDT is experiencing a sharp -23% plunge in the last 24 hours, dropping to 0.11713 after hitting a high of 0.15907! This perpetual futures pair on Binance shows heavy selling pressure, with the price breaking below key supports and forming strong bearish candles on the chart.
📉 Bearish signals are stacking up:
Bollinger Bands are expanding downward, with price hugging the lower band.
RSI(6) at ~31 and RSI(14) at ~41 – deeply oversold but still no clear reversal bounce.
Stochastic oscillator showing low K/D values with J at ~18, indicating continued downward momentum.
Recent candles confirm rejection from higher levels, with volume supporting the dump.
This looks like a classic capitulation move – but momentum traders, the downside isn't over yet! We're eyeing further weakness toward previous lows around 0.107 – 0.10699 zone.
TRADE IDEA: SHORT $ALCH USDT NOW!
Entry: Around current levels ~0.117 – 0.118 (aggressive short on confirmation of rejection)
Take Profit 1: 0.110 (quick scalp)
Take Profit 2: 0.107 (main target near recent low)
Stop Loss: 0.123 (above recent swing high for protection)
Risk-reward looks solid 1:2+ if it breaks lower. Volatility is high – use low leverage (5x-10x max) and manage position size!
Don't miss this momentum play in the alts. DYOR & trade responsibly – crypto moves fast! 🚀💥
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