What’s next for Alchemy Pay?

The price of the altcoin Alchemy Pay (ACH) has seen a significant rally recently as investors are optimistic about the continued growth of the ecosystem. The Alchemy Pay token is currently trading at $0.008.

On Friday, the price of ACH jumped to $0.009 but quickly fell back. The price increase in the last 24 hours is 3.10%. The market cap of this cryptocurrency is just over $40 million.

ecosystem growth

Alchemy Pay is a fintech company that provides payment solutions for e-commerce vendors who want to receive payments in cryptocurrencies.

The idea is relatively simple. When running an e-commerce store, there is no need to create your own infrastructure for crypto transactions, just use Alchemy Pay. The payment service receives payments in different coins and automatically converts them into the chosen fiat currency.

In recent months, Alchemy has also introduced other services into its ecosystem. For example, Ramp was presented, a direct token exchange platform, where you can buy and sell all kinds of cryptocurrencies. A white label product was also launched, allowing companies to create their own Visa and Mastercard cards.

ACH is the native token of this ecosystem. It is an integral part of the Alchemy platform as it is used to convert cryptocurrencies into fiat currencies. One can also stake ACH tokens and receive a return on them, formed from a portion of the transaction fee.

The ACH price rose after a number of new integrations were announced. In a statement, the development team said that local currencies will now be supported in the Philippines. This means that users in this country will be able to buy cryptocurrencies by local bank transfer and code scan.

Alchemy Pay also sells a collection of Christmas-themed NFTs. The news came a few days after the launch of NFT Checkout. This is a service that allows users to purchase NFTs directly for fiat currencies. Alchemy has also entered into a new agreement with BitKeep.

Alchemy Pay Price Prediction

The price chart shows that the price of Alchemy Pay has recently rallied dramatically. This price move coincided with the revival of Metal Pay (MTL) – a protocol that offers similar functionality. Moving up, the token managed to break key resistance at $0.0086, which was the highest on December 20.

The chemistry jumped above the 25- and 50-day moving average lines, while the relative strength index (RSI) and the stochastic oscillator moved into overbought territory. So I suspect that the token will crash again during the Christmas weekend.

If so, the next key level will be $0.0080, a price to watch. A move above the resistance at $0.0090 would invalidate the bullish view.

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