Alchemy Pay

The bears stepped up a gear on April 24 - April 30, dropping the price of Alchemy Pay by 6%.

Between April 24 - April 30, Alchemy Pay has been mostly bearish as its price has been in the falling mode. The volatility of ACH has been low throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

The current state of affairs on the cryptocurrency market allows us to draw the conclusion that Alchemy Pay is now going through the cycle of low volatility. The insignificant movement of the ACH market came as the result of low average volatility that amounted to 0.44%. The maximum volatility of the coin stood at 6.02% in the analyzed time frame. The asset experienced the period of lowest volatility on April 29 when it fell to 0.44%. The crypto coin's low volatility of 0.44% points to the weakness of all market participants.

On April 24, the first trading session of the reviewed time period, the market participants saw ACH moving up by 1%. The coin market was down by 3% on April 25, the second day of the reviewed time period. On April 26, the market was moving to the upside as Alchemy Pay went 6% up from the low at $0.033 to the high at $0.035. ACH ’s performance during April 27 was the following: the price increased by 5% in conjunction with the acceptable trading volume. Alchemy Pay finalized the trading day of April 28 at $0.03 after opening it at $0.03, though the price broke through that corridor to hit the 24H high at $0.034 and the 24H low at $0.032. No changes were observed on the crypto coin's market on April 29. The coin found the deepest trough (24H low) at $0.032 on April 30 and then exploded to the ceiling (24H high) at $0.033; the price range for that day was between $0.03 and $0.03. The price action on the asset's market during the period between April 24 and April 30 topped at $0.035, while the bottom of the price range was established at $0.032. Alchemy Pay shaped the $0.002 price range over the week of price action, which constituted the 6% gap between the weekly low and the weekly high.

The past 7 days were marked by a change in average daily trading volume from $18 839 795 on April 24 to $16 661 516 on April 30. We can draw the comparison with the period of 7 days that preceded the reviewed one when ACH ’s trading volume varied from $23 528 042 to $89 045 046. Percentage-wise, the trading volume of the asset changed by 45%, in comparison to the previous period, while its price experienced a 6% adjustment.

The total capitalization of Bitcoin at the start of the analyzed time period (April 24) amounted to $167 234 198; by the end of that period (April 30), the capitalization went to $162 843 750. ACH experienced a 3% change in total market capitalization throughout the past seven days. As a consequence of the 3% fluctuation in its market capitalization, the price of the coin changed by 6%. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $202 331 811 on April 17 and $174 151 556 on April 23, which translates to a 14% change.

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Article date: April 30 | April 24 - 30

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