Alchemix (ALCX$) bullish trend holding strongAlchemix 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.
