In early May 24, most of the coins in the market were trying to consolidate after a major crash a week earlier. But Alchemy Pay (ACH) was in the process of breaking out in a massive bullish trend. The coin however has failed to maintain this momentum and appears to have lost most of its gains. Check the facts given below:
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ACH has lost almost 80% of its value since the May 24 rally
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Coin continues to show weakness with a drop of 15% in 24 hours
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However, the downtrend may slow down in the coming days
Data Source: TradingView
Alchemy Salary (ACH) – Price Prediction & Analysis
Alchemy Pay (ACH) has been on a bearish trend for a long period. In fact, the coin has fallen sharply from its 2021 highs. However, there were some signs that we could be seeing a trend reversal when it surged around 80% in just a few days. These signs have now disappeared.
Instead, ACH has returned to its bearish outlook and erased almost all of the gains it posted over the past two days. However, we believe that the worst is over now. Although the coin is heading towards a brutal closing today, it is likely that the downtrend will slow down at the start of trading tomorrow.
But the upside potential is still very small. In the best case, the ACH could be priced at $0.021, which is about 25% higher than its current price.
why alchemy pay is going to be huge
Alchemy Pay is designed to offer hybrid payments in both crypto and fiat. Over the years, the platform has allowed over 2 million merchants around the world to accept crypto payments. This is a huge deal.
As expected, the adoption of crypto as a de facto payment option in the real economy is inevitable. In such a situation, platforms like ACH are likely to benefit greatly from this boom.