Alchemy Pay price went parabolic and then pulled back sharply on Thursday as demand for the coin rose. ACH, the fast-growing coin, rose to a high of $0.015, which was the highest level since October 14. At its peak, Alchemy was up by more than 50% from its lowest level this month.
What is Alchemy Pay and why is it rising?
Alchemy Pay is a small and fast-growing company that seeks to become the best payment platform in the industry. Its goal is to bridge the gap between fiat and cryptocurrencies. It does that by making it possible for people to pay for their favorite products using cryptocurrencies.
Alchemy Pay is widely used by some of the leading companies globally. Some of the top companies that have embraced Alchemy are Shopify, Arcadier, Checkout, and Nium.
ACH is the native token for the ecosystem. It is an Ethereum coin that is used to pay for transaction fees, rewards for network use, and lowering transaction costs, and it is pledged by business partners during the onboarding process. In addition, ACH has been used to provide rewards for users.
Alchemy Pay price has done well in the past few days as investors focus on the recent partnerships. This week, Alchemy Pay said that it had partnered with Nest Protocol. The partnership will help to bridge crypto and traditional fiat currencies. As a result, its on-ramp widget provides mainstream-friendly access to crypto services via cards and local mobile wallet.
Meanwhile, ACH price has risen after it made it possible for users to buy Aptos’ APT on its ramp project. Ramp is a platform that makes it possible for people to buy and sell cryptocurrencies cheaply.
ACH price forecast
Is ACH a good crypto to buy? The two-hour chart shows that the Alchemy Pay price rose to a high of $0.015. As it dropped, it moved below the important support at $0.012, which was the highest point on October 17. It remains slightly above the 25-period and 50-period moving averages.
Alchemy Pay’s Relative Strength Index (RSI) has moved below the overbought level. It has moved to the neutral level. Therefore, the coin will likely continue falling as sellers target the next key support level at $0.010. On the flip side, a move above the resistance at $0.13 will invalidate the bearish view.