Alchemy Pay pioneered the world’s first payment gateway solution connecting fiat currencies and cryptocurrencies. In short, it aims to build a bridge between digital money and fiat worlds.
With a supply of almost 5 billion in circulation, the highest supply of the cryptocurrency will be 10 billion dollars. At the current stock price, Alchemy Pay has a market capitalization of almost 65 million and over 180 billion coins are traded daily. So, the price broke out of a falling wedge pattern. Such a pattern shows a reversal; in most cases, the market falls more than half the distance of the pattern. However, this does not mean that the market cannot make a new low.
Therefore, for long positions, a stop-loss order should be placed at the bottom of the falling wedge, while the take-profit order should be around half the distance the market has traveled on its way down. In other words, 0.035 should be reasonable. The fear is that yesterday’s price surge is another false breakout. A quick look at the past shows that similar breakouts turned out to be false as the market reversed and made a new low.
Alchemy Pay Price Prediction for 2030
The 4-hour chart of ACH / dollars has turned bearish after yesterday’s bullish rate. The line has just slipped into bearish territory, while the relative strength Index shows that the cryptocurrency is currently oversold. Technical indicators are pointing to another bad correction in the coming hours.
Currently, ACH is trading at $0.06 per coin, down about 5 % over the past day. If the current bearish sentiment strengthens, ACH could break below the initial support at 0.055 per coin. On a prolonged bear stock, ACH could drop even further and move towards the support at 0.0446, which was last seen earlier in the month. ACH could see more losses in the coming hours unless the market situation reverses and the coins start to recover. However, if the bulls regain control, ACH could see the good point at 0.0680 and rally above the first resistance.
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