Alchemy Pay price has traded sideways for the past few days. The markets have also not had any type of volatility. Today’s trading session also looks poised to continue with low volatility, low momentum trading. However, today’s prices are bullish, and they are likely to wipe out yesterday’s losses.
In the last 24 hours, the trading volume of Alchemy Pay has reduced by 37 per cent. Although not a clear indication of loss in traction by its users, it is a huge decline for one day. The trading volume was also $23 million. In most cases, such a volume does not move the cryptocurrency market by a huge factor. This may explain the recent problems of volatility with Alchemy Pay.
Despite these problems, Alchemy has continued to create new partnerships and expand its reach. The platform has made a significant partnership with Real Betis in the past month alone. This will be a paid partnership that will see Alchemy products displayed in future home matches of the football club.
The platform has also gotten into a partnership with Grepay. This will help the company expand crypto payments. At its core, Alchemy Pay tries to bridge the cryptocurrency world with Fiat currency, and this partnership is likely to accelerate the process.
Alchemy prices have dropped by 54 per cent from this year’s price highs. Today, Alchemy Pay has been trading on a ranging market for over two weeks. This is after failing to break out of the $0.038 support level. The prices have also recently hit the $0.045 resistance level and failed to break to the downside.
Although today’s trading session is showing a bullish lean, my Alchemy pay price prediction expects the prices to fall again to the $0.038 support level. This is because the markets have no volatility. The recent drop in trading volume and a drop in enthusiasm about cryptocurrency will also contribute to its fall in prices. However, there is a chance that once it hits the support level, the prices may recover.
This post was last modified on Mar 31, 2022, 14:09 BST 14:09