It appears that Alchemy Pay (ACH) has entered a significant consolidation phase. The coin has largely moved sideways after coming under pressure over the past two weeks. Despite this, ACH remains in a bearish trend and will need a strong catalyst to reverse course. Key points to consider:
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ACH is bouncing within a very wide range, indicating elevated volatility.
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The coin is more than 77% below its 2021 all-time highs.
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It remains below the critical 25-day simple moving average (SMA), which signals ongoing weakness.
Data source: TradingView
Alchemy Pay (ACH) – When will the downtrend break?
At this stage, it is difficult to predict when or how ACH will break the downtrend. There are simply too many risk factors at play. The threat of rising inflation, global economic impacts from higher energy prices, and geopolitical tensions in Europe are all weighing on market sentiment.
We expect the coin may fall further before finding a bottom around the $0.032 support level. After that, buyers could attempt to establish demand. At the time of writing, ACH was trading near $0.039, so there may still be a way to go before a true bottom is reached.
We do not expect ACH to reclaim its all-time highs in the near term. The coin is likely to remain volatile and could be better suited for short-term trading approaches. Currently, ACH has a market capitalization near $160 million and trading volume remains relatively low.
Is Alchemy Pay (ACH) sustainable?
Crypto-based payments are poised to grow significantly in the coming years. Many companies are investing heavily in payment projects, which means Alchemy Pay faces considerable competition.
However, that should not necessarily deter investors. ACH has already established a presence in both centralized and decentralized payments ecosystems and retains meaningful future potential.