Bearish price action on April 29 to May 5 resulted in Alchemy Pay by 10%.
The analysis of last week’s price action shows that the Alchemy Pay market is in the bearish phase since the price has been moving downward. The volatility associated with the ACH market was medium, as were its price fluctuations. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The situation on the Alchemy Pay market allows us to characterise its volatility as mild. Our comprehensive data indicates that the price change of ACH has been moderate on the back of the average volatility of 5% for the given time period. The most significant volatility occurred on April 29 and reached 6.43%. The asset saw its volatility drop to the lowest level for the given period on May 3 as it shrank to 0.44%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
There were no gains or losses to the ACH market on April 29, it remained flat. April 30 saw the coin going another 3% since the open, supported by the corresponding trading volume. The bears dominated the price action during the following trading period as the price drifted 5% to the downside, having established the low for the reviewed time frame at $0.03, while the high was recorded at $0.03. The ACH market was up as the price shifted by 2% on May 2, against the backdrop of the sufficient trading volume. The developments on the Alchemy Pay market on May 3 started with the price opening at $0.03 and subsequently moving to $0.03, the close of the day, while dropping to the 24H low at $0.03 and spiking to the 24H high at $0.03. The activity on the crypto coin's market on May 4 resulted in the asset being traded between $0.03, the open of the day, and $0.03, the close of the day; at some point, the price spiked to the daily high at $0.03 and briefly dropped to the daily low at $0.03. As for the occurrences on May 5, the price of the coin bottomed at $0.029 and peaked at $0.03, while its daily range formed between $0.03 and $0.03. The price action on the asset's market during the period between April 29 and May 5 topped at $0.03, while the bottom of the price range was established at $0.03. Alchemy Pay shaped the $0.003 price range over the week of price action, which constituted the 10% gap between the weekly low and the weekly high.
In the period April 29 - May 5, the trading volume of Alchemy Pay went from $19 180 299 on the first day of the reviewed period to $16 170 076 on the closing day. During the week before April 29, the trading volume of ACH flowed from $18 839 795 to $43 760 547. The 30% trading volume fluctuation between April 29 and May 5, as compared with the previous period, served as a basis for a 10% price move.
The total market capitalization of Alchemy Pay during the past 7-day oscillated between $162 290 043, the starting point that was established on April 29, and $143 578 551 on May 5, the end date of the reviewed period. The percentage change in the total market capitalization of ACH amounted to 12%. The said 12% percentage change in market capitalization of the coin was accompanied by the 10% fluctuation in the price of the underlying asset. Alchemy Pay ’s market capitalization from the week before changed by 1%, as the result of fluctuation between $163 554 144 and $162 290 043, to give a clearer vision of the current state of the market.