$ALCX

🚨 ALCX/USDT: Technical Patterns Suggest a Resurgence! 📈

"Guys, I'm keeping an eye on ALCX/USDT and the charts are giving us signals that the market might be preparing for a new bull run!

Despite the recent correction (the price dropped from $20 to around $9), the buying strength is re-establishing itself. Why might the trend be BULLISH now?

1. Consolidation and Support

The price of $9.73 (1H chart) and $9.76 (1D chart) is consolidating and finding support at the Medium Bollinger Band (MB), which has historically acted as a strong floor. Volatility has decreased, which typically precedes major movements.

2. Overbought/Oversold Indicators

In the 1D chart, StochRSI and RSI were at extreme oversold levels (StochRSI at 7.68), indicating that selling pressure was exhausted.

Now, in the 1H chart, the StochRSI has already made a bullish crossover and is rising (from 63.89 to 80.03), and the RSI is also on the rise. This is a classic sign that buyers have taken control in the short term and buying pressure is returning.

3. Ongoing Reversal Pattern

Observe the last candles on the 1H chart (with a price of $9.73): the asset is forming small bullish bodies (green), showing that the decline has been halted.

If ALCX can break the Upper Bollinger Band (UP) in the range of $10.00 to $11.00 (depending on the timeframe), we will have a clear confirmation that the bullish trend is resuming.

Conclusion for Trading:

ALCX is at an inflection point. The drop in indicators (StochRSI) suggests that the price is 'cheap' in the short term, and consolidation and reversal patterns are forming. Keep an eye on the breakout above $10.00! 🚀