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According to the market data from Gate.io, [ALCH](/trade/ALCH_USDT) The current price is $0.0792, with a recent 24-hour increase of 24.19%. In the past 24 hours, the market's altcoins have been largely in a downtrend, with early popular AI concept tokens such as AIXBT and FARTCOIN experiencing significant drops, but ALCH has surged against the trend, approaching a 30% rise at one point. Why is ALCH performing so strongly, and how should it be traded in the future? What is the Alchemist AI project? This article will answer these questions one by one.

## ALCH Market Analysis

### Current Market Overview
- Spot Price: 0.07881 USDT
- 24-hour rise: 23.24%
- Highest price in 24h: 0.08092 USDT
- 24-hour low: 0.06194 USDT
- Support level: 0.06633 USDT
- Resistance level: 0.08542 USDT
- Market sentiment: fear (fear and greed index is 34)

### Technical analysis

- KDJ indicator: showing a 'dead cross' in the short-term trend, indicating possible downward pressure.
- RSI indicator: shows overbought conditions, which may lead to price pullback.
- EMA indicator: showing the price falling below the moving average, further confirming the bearish signal.

  ## Trading Strategy Recommendations

  ### Strategy 1: Short-term bearish strategy

- Direction: bearish
- Entry price: 0.07800 USDT (enter near the current price)
- Stop-loss price: 0.08100 USDT (above resistance level)
- Target price: 0.06650 USDT (close to support level)
- Strategy features: Due to the market sentiment leaning towards fear, and technical indicators showing bearish signals, a pullback may occur in the short term. This strategy utilizes short-term price fluctuations and is suitable for quick traders.

### Strategy 2: Breakthrough trading strategy

- Direction: Long
- Entry price: 0.08000 USDT (entry after breaking through the resistance level)
- Stop loss price: 0.07700 USDT (below the current price)
- Target price: 0.08500 USDT (near resistance level)
- Strategy features: If the price breaks through 0.08000 USDT, it may trigger more buying interest and drive the price to rise. This strategy is suitable for medium-term investors, taking advantage of the upward trend after the breakout.

## What is Alchemist AI?

Alchemist AI is a no-code application generation platform that allows users to quickly generate different applications and products using public AI capabilities through natural language de_script_ions. Unlike traditional AI agents, Alchemist AI does not require users to create different AI agents, but automatically generates applications through the AI capabilities provided by the platform.

Users only need to connect their wallet and enter the application de_script_ion, and the platform will generate the corresponding program, which can then be downloaded or further optimized through conversation with AI. The uniqueness of this platform lies in its provision of development tools to users in a code-free manner, and its utilization of community to disseminate value, thus making a breakthrough in the AI Agent track of the <a href="/ja/price" target="_blank" class="blog_inner_link">crypto market</a>. The main catalyst for this project is the continuous development progress, and the use case of the token is to promote the launch of advanced models. Additionally, the project has an amazing coding engine, which will further enhance the platform's attractiveness.

Alchemist AI's highest market cap reached $214 million, but now it has fallen to around $66 million, with a daily trading volume of $67 million. The token price is showing a downward trend. Currently, ALCH has dropped nearly 70% from its historical high, providing potential low-entry opportunities for investors who are optimistic about the future of no-code application generation.

<div class="blog-details-info">
<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. Investment involves risks and users need to make careful decisions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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ALCH Surges Over 20% Intraday, What Is Alchemist AI?