- Alchemy Pay price has made a strong recovery in the past few days.
- Alchemy will likely keep rising as cryptocurrencies rebound.
Alchemy Pay price has bounced back as investors buy the dip. The ACH token rose to a high of $0.022, the highest level since May 25th. It has jumped by more than 82% from the lowest level in June. Its market cap has jumped to more than $91 million.
What is Alchemy Pay?
The finance industry is going through significant changes. For one, competition has jumped sharply in the past few months. As a result, many companies have started to embrace cryptocurrencies in their operations.
The challenge for most companies is how to accept digital coins. This is where Alchemy Pay comes in. It is a financial platform that aims to bridge cryptocurrencies and fiat currencies. It has a technology platform that enables companies to accept all cryptocurrencies.
According to its website, Alchemy Pay is supported in more than 70 countries. It also supports more than 300 fiat payment channels. All this is made possible through its mainstream partners like ePay, Shopify, Revolut, and Checkout.com.
Alchemy Pay has also partnered with leading blockchains like Algorand, Binance, Huobi, Tron, and Avalanche. Recently, the company partnered with Binance Pay and Instpower and is now integrated with StepN.
ACH is the native token for the ecosystem and users can stake it easily through popular exchanges like Binance and Crypto.com.
The Alchemy Pay price is rising as investors react to the ongoing recovery of cryptocurrency prices. Bitcoin rose to above $23,000 while Ethereum jumped to over $1,600. As a result, the total market cap of all coins has jumped to over $1 trillion.
This is important for Alchemy because it is providing a sign that demand for crypto payments will rise in the near term.
Alchemy Pay price prediction
The four-hour chart shows that the ACH price has been in a strong bullish trend in the past few days. As it rose, it moved above the important resistance level of $0.0140, which was the highest level in July. It has managed to move above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the overbought level.
Alchemy Pay has formed a bullish pennant pattern. Therefore, there is a likelihood that the coin will keep rising as bulls target the key resistance level at $0.025. A drop below the support at $0.015 will invalidate the bullish view.
