Why is Alchemy Pay Price Pumping?

The recent survey on the price of Alchemy Pay (ACH) has indicated a rise with a 57.64% increase in volume and also gaining 25% in value, and many traders are keeping a close eye.

A major reason behind the price jump is the hypothesis around new developments. Recent info on Alchemy Pay hinted at something involving stablecoins and faster transactions, which fits into the broader trend of financial giants like Mastercard embracing tokenized payments. While details are still unclear, the enthusiasm around potential upgrades has sparked buying interest.

Top crypto analyst Nilesh Rohilla recently pointed out on X, indicating a 25% rally in Alchemy Pay (ACH), sparking the interest of traders. In his tweet, he made emphasis on Alchemy Pay’s role in bridging fiat and crypto payments.

Alchemy Pay has been on traders’ radars, especially with the probability of upcoming innovations. The project’s recent moves align with a broader trend where major financial institutions, like Mastercard, are exploring tokenized payments and stable assets.

https://x.com/nilesh_rohilla/status/1891729122935890228

Observations on the Alchemy Pays chart (ACH) to validate a potential trend reversal after a long downtrend. It is currently trading at $0.03302 with a daily increase of 11%. The price is above the 9-DAY DEMA, which was at $0.02847. This is a good sign for a possible upward trend shift.

In terms of the resistance zone, the initial target stands at $0.035 — $0.036, where the price had faced rejection previously. If Alchemy Pay manages to clear this hurdle, the subsequent target will be in the range of $0.050 — $0.055. As for support, $0.028 is the initial level that should be monitored. However, $0.020 — $0.025 continues to be a robust demand area where buyers previously entered the market.

The ensuing weeks will be important for Alchemy Pay. If the price continues to trade above $0.030, it could validate a higher low, which supports the argument of a bullish trend. The MACD indicator is also hinting towards a potential crossover, which can add additional fuel if confirmed.

Nonetheless, the markets remain uncertain, which will result in short-term fluctuations. While the forthcoming changes, coupled with the robust fundamentals, provide Alchemy Pay with new upside opportunities, traders need to be on the lookout for key levels to gauge if momentum remains.