Alchemy Pay (ACH) price has been soaring since the start of this year. The coin has become one of the best-performing cryptocurrencies due to a 450% price surge in 2023. Our ACH crypto analysis suggests that the price still has more room for growth due to a bullish breakout.
ACH crypto is showing great strength once again, as it is 30% up this week. On Friday, Alchemy Pay price is trading at $0.0428 after gaining 6.64% during today’s trading session. This positive price action comes on a day when most cryptocurrencies, including Bitcoin and Ethereum, are down.
Alchemy Pay Hits $400 Million Valuation
The fiat gateways act as the main source of liquidity in the crypto markets. Alchemy Pay provides its clients with convenient fiat on-ramps and payment solutions leveraging its global network of partners. The project is currently supported in over 70 countries with 300 payment channels.
The current Alchemy Pay price puts it at 183rd rank on Coingecko with a market cap of $211 million. According to the most recent Alchemy Pay news, the project has raised $10 million from the market maker DWF Labs at a $400 million valuation.
Alchemy Pay Price Breaks Out Of Bullish Pattern
The daily chart of ACH crypto shows a clear breakout from the symmetrical wedge pattern. Such breakouts tend to be very bullish in an uptrend. There also appears to be a volume increase in the past few days. If the price closes a day above the trendline and confirms the breakout, Alchemy Pay price prediction will become very bullish.
In such a case, the first target for the bulls will be the yearly high of $0.051. A reclaim of this level might result in a bigger push toward the February 2022 high of $0.068. This will be a 60% price increase from the current price. The Bitcoin price action will play a key role in this regard.
I’ll keep posting my updated ACH price analysis on my free Telegram channel, which you are welcome to join.
