Alchemy Pay (ACH) price has crawled back in the past few days, thanks to the crypto market’s stability and ecosystem partnerships. The ACH token rose to a high of $0.0258, its highest point since July 12th. It has soared by almost 30% from its lowest point last month.
The Alchemy Pay network is growing
Alchemy Pay is a leading player in the crypto industry, where it solves some of the biggest challenges in the sector. Its primary solution is a payment network that lets companies integrate crypto payments into their platforms.
It is a solution similar to payment providers like Stripe, Square, and GoCardless, which manage payment infrastructure for numerous companies. In this instance, companies such as BingX, OKX, and Bitget utilize the network’s payment infrastructure.
At the same time, Alchemy Pay offers a solution for companies to issue crypto debit cards to customers. It does that using its partnership with Visa, the biggest payment platform in the industry. The platform also lets users easily buy cryptocurrencies with their cards and local currencies.
Moreover, the developers have continued to make deals with other companies in a bid to boost the ecosystem. In June, the company boosted its presence in Africa by adding 9 countries where users can buy crypto using their currencies. These include Kenya, Rwanda, and Uganda.
In late June, the network launched a partnership with Danal, a South Korean company that is the country’s biggest virtual asset payment service provider. Alchemy believes that the Korean market is highly strategic because it is one of the most active in the crypto industry.
Alchemy also partnered with Tomo, an all-in-one social wallet. The partnership allows users to fuel their crypto journey easily.
Alchemy Pay price analysis
The 4H chart shows that the ACH token price has done well in the past few days. After bottoming at $0.0196 on June 18th, the token soared by almost 30%. It also jumped above the key resistance point at $0.02435, its lowest swing in May this year.
Alchemy formed an inverse head and shoulders pattern and has moved above the 50-period and 100-period Exponential Moving Averages (EMA). Similarly, the Relative Strength Index (RSI) has pointed upwards.
Therefore, the Alchemy Pay token will likely continue rising as buyers target the key resistance point at $0.033, its highest point in June. If this happens, the token will rise by about 32% from its current level.
