Ashura's Alchemy Lab

[Sketchasaurus]

First, I'm just gonna address the color palette, because I think that's a good place to start.
the shades in the sprite are a bit too close together and it makes it hard to make out certain details on the sprite. I made some tweaks to the colors here:

Of course, at the end of the day, color choices are up to you. I opted to use more vibrant colors so that the red and green stood out from each other a bit more.

Notice how the shade of green has a slighter blue tint to it? we often call that hue shifting, and it's something that can be seen in nature. a rule of thumb that I often follow is:
if something is in shadow, use cooler colors; if something is in light, use warmer ones.