Alchemy Pay (ACH) Price Has Surged This Week, Making It One of the Best-Performing Coins

The Alchemy Pay price has surged this week, making it one of the best-performing coins in the crypto industry.

Alchemy Pay (ACH) price has surged in the past week, making it one of the best-performing coins in the crypto industry. The ACH token climbed to a high of $0.0290, its highest swing since March 21, and about 70% above its previous levels.

The money transmitter license will allow the company to provide its fiat-to-crypto gateway solutions in the state. It has also secured licenses in Canada, Australia, and South Korea.

The ACH price also increased after the developers announced their new plans to deepen their emphasis on Real World Asset (RWA) tokenization. RWA technology enables users to convert their physical assets, like real estate and stocks, into transferable tokens that can be traded easily.

Alchemy Pay’s focus will be integrating the tokenized assets into the Alchemy Chain, its layer-1 network built on the Solana Virtual Machine architecture.

The RWA industry has become quite popular today. CoinGecko keeps track of all related tokens, which have a market cap of over $30 billion. These include popular tokens like Chainlink, Ondo Finance, and Ethena.

Alchemy also partnered with Ethena this week, allowing users to acquire USDe and ENA tokens on its platform using a debit or credit card.

Due to Alchemy Pay’s services, ACH is one of the leading utility tokens in the crypto industry. Its main service enables users to buy cryptocurrencies on its platform using their cards and withdraw their coins to their cards or bank accounts.

Alchemy Pay Price Technical Analysis: 4H Chart

The 4H chart reveals that the ACH price has experienced a strong resurgence in recent days. It has formed a cup and handle pattern, a renowned continuation sign in the market.

The Alchemy Pay price has moved above the 50-day and 100-day moving averages and the 23.6% Fibonacci Retracement point. The Average Directional Index (ADX) has risen to 45, an indication that the trend is strengthening.

The BBTrend indicator has also tipped in favor of the bulls. Thus, the coin will likely continue rising as bulls target the 50% retracement point at $0.03750, about 32% above the current level.

On the other hand, a fall below the 200-day MA at $0.0190 will negate the bullish trend. This move will also cancel the gains made since December 15, 2022.

As of 08:38 ET, the ACH price is trading at $0.0283.

The post Why Is Alchemy Pay (ACH) Price Surging This Week? appeared first on Web3 Today.