- Alchemy Pay price jumped after its partnership with Celo.
- The partnership means that Alchemy will add CELO and cUSD in its ramp product.
Alchemy Pay’s ACH was one of the best-performing cryptocurrencies on Tuesday as most coins turned red. ACH price jumped to a high of $0.027, the highest level since May 7. It has jumped by more than 25% from the lowest level this year.
Why is ACH price rising?
Most cryptocurrency prices drifted downwards on Tuesday after the United States published weak retail sales numbers. Bitcoin moved below $27,000 again while most of the top-ten cryptocurrencies were deeply in the red.
Alchemy Pay was one of the few cryptocurrencies in the green, with the others being DREP, Gifto, Oax, and Liquity. It is unclear why ACH price jumped. A likely reason is that the developers announced that they were partnering with Celo, one of the leading blockchains in the world.
The partnership will see the network integrate CELO and cUSD into its on-ramp solution. This partnership will make it possible for users to engage with these digital assets for their daily use in an easy way. In a statement, the head of the ecosystem at Alchemy Pay said:
“Alchemy Pay is committed to providing our users with the most comprehensive payment solutions that are both secure and convenient. This integration with Celo demonstrates our commitment to bringing decentralized finance to a wider audience through seamless fiat-to-crypto conversions.”
Alchemy Pay has been one of the most prominent cryptocurrencies this year. As I wrote here, the developers launched millions of dollars this year to aid in its development and rollout.
At the same time, the network was added into Visa’s payment network and reached several important partnerships. For example, it recently reached a partnership with CoinW, Dodo, Map Protocol, and Shido among others. These partnerships are important as it seeks to grow its fintech solutions.
ACH price prediction
The 4H chart shows that the Alchemy Pay price crashed to a low of $0.02086 this week. This was a major drop since it was about 51% below the highest level in April.
Now, ACH price has made a strong bullish comeback after its partnership with Celo. As it jumped, it managed to flip the resistance at $0.022 into support. The token moved above the 25-day and 50-day exponential moving averages while the Relative Strength Index (RSI) has moved close to the overbought level.
Therefore, there is a likelihood that the token will continue rising in the near term as sellers target the key resistance point at $0.030, the lowest point on March 27. This price is about 14% above the current level.
