$ALCH's recent trend shows typical weak characteristics. After a volume-driven decline, a breakdown structure has formed, which often indicates further downside potential. The most noteworthy point is that the open interest remains high, suggesting that a large number of long positions are under pressure.

From the data, $ALCH's single-day decline has exceeded 25%, with huge trading volume. This is not simply a matter of long liquidation. The key point is that open interest did not significantly decrease during the price decline; instead, it remained high, indicating active selling pressure is ongoing. From a technical perspective, the price has broken below all recent support levels, and market sentiment has clearly turned pessimistic, making any rebound weak.

Based on this assessment, a shorting opportunity has formed. It is recommended to look for entry points in the 0.0910-0.0930 range, with a stop-loss set at 0.0985 (a rigid stop-loss level; a break above this indicates the structure has failed). The targets below are 0.0820 and 0.0740.

Until clear support appears below, following the trend and shorting is the most rational choice.