The Alchemy Pay price is up by almost 2 per cent in today’s trading session, extending the bullish trend streak to three days. However, despite the push to the upside, Alchemy Pay’s price push to the upside has lacked momentum and volatility for weeks and has traded in a horizontal market for most of that time.
Part of the reason we have started to see Alchemy Pay price starting to rise is due to the recent cryptocurrency industry recovery. In most cases, altcoins such as Alchemy Pay are heavily impacted by the price movement of major cryptocurrencies and industries due to them being positively correlated with these digital assets. Therefore, they trade in tandem with the general trend of the industry, and we have seen this in the current cryptocurrency industry price recovery.
There is also the fact that Alchemy Pay continues to partner with other platforms, which has given it an edge in the market. For the past few months, we have reported multiple Alchemy partnerships with other platforms and companies such as Forter, GrePay, Real Betis and ePayments. Today, the platform has continued to partner with like-minded companies, with the latest being the integration of Alchemy Pay on the iNFTspace. Such moves, in most cases, are market movers and can result in a cryptocurrency’s continued rise in the markets.
The past three days have given a clear signal that Alchemy still has the potential to go upside despite lacking momentum and volatility in the past three weeks. Therefore, my Alchemy Pay price prediction expects the prices to continue going up for the next few trading sessions.
There is a high likelihood that we might see Alchemy Pay trading above the $0.015 price level by next week. The current cryptocurrency industry recovery is likely to play a role in the continued price surge of Alchemy. My bullish analysis will be invalidated if prices drop to hit the $0.010 support level.
This post was last modified on Sep 09, 2022, 13:43 BST 13:43