Both sentences can be correct, but mean slightly different things.
"I've been doing Chemistrychemistry all day" means "I spent all of today doing Chemistrychemistry and I am still doing Chemistry"chemistry". The "I've been doing" structure says that you continue to do what was described. You are actively involved in it right now.
"I was doing Chemistrychemistry all day" is a statement about the past. It can be used for any day. It usually means "I spent an entire day doing Chemistrychemistry but that work is done." The work can be done because this is a different day or because you are not doing Chemistrychemistry now.