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- ALCHEMY PAY Price Prediction points out the correction phase of ACH after a Bullish start to the Year
- ACH Crypto fetched a return of 153.69% in the last 6 months
ALCHEMY PAY Price Prediction unveils a market phase marked by aggressive selling and falling prices after a strong uptrend. ACH Coin is trading at $0.01971. The Market is down 4.16% in the last 24H.The 24H Volume witnessed a fall of 0.67%. The overall market cap of ACH Token is $128,512,727
ALCHEMY PAY Price Prediction: Correction phase after massive rally
On the daily charts, ACH, had a great start to the year as the prices witnessed a bullish rally of almost 500%. The market made an all-time high of $0.05. Prices started to correct in February where ACH Crypto has lost 50 % so far. Meanwhile, the price is trying to sustain above the support of $0.01837.
Alchemy Pay Price Prediction highlights the correction phase of ACH Token where the market is forming a falling wedge pattern. Prices are trading below the 9, 15 and 200 EMA which establishes the bearish price action where bulls may have to fight hard to flip the trend. Breaking the falling wedge may kickstart a bullish rally.
Bulls are trying to defend the support. : Technical Indications.
The 4H Chart helps to analyze the sideways price action of ACH. Prices are bouncing between the support and resistance of $0.0203 and $0.01837. At present, the bears have the edge as the prices are trading below the 200 EMA. The market took a dip of 14% from the resistance.
If the Bulls fail to defend the support, prices may plunge down up to 20% to the next support of $0.01439. On the flipside, if the market breaks the resistance, it will contribute to the breakout of the falling wedge which has a price target of $0.0445. The breakout may surge prices by 100 %
RSI: The RSI indicator is currently at 38.61 on the 4H. It represents weakness in the market.
MACD: The MACD is about to make a bullish crossover. The Histogram highlights the loss of momentum of the sellers. The indicator is still below the 0 lines. It represents sideways conditions
200 EMA: As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.
Conclusion:
ALCHEMY PAY Price Prediction unveils a market phase marked by aggressive selling and falling prices after a strong uptrend. The prices are in turmoil which could be the result of profit booking . Technical indicators showcase signs of bearish sell pressure in the market. Investors can weak for the breakout of the falling wedge which may take Alchemy Pay to its all-time high of $0.05
Technical levels
Support Levels: $0.01837- Support 1
$0.01439 Support 2
Current Price: $0.01971
Resistance Levels: $0.02302 – Resistance 1
$0.03009 – Resistance 2
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
