Alchemy Pay

The capitulation of May 2 - May 8 : Alchemy Pay experienced a 22% dive.

Between May 2 - May 8, Alchemy Pay has been mostly bearish as its price has been in the falling mode. The situation on the ACH market shows that the underlying asset is currently experiencing a period of medium volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the decreasing trading volume.

The unfolding situation in the Alchemy Pay market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of ACH was in the middle register, averaging at 10%. The coin has hit the highest point of volatility on May 2. On May 6, the volatility of the asset was at its minimum at 1.75%. The crypto coin's market didn't put up any surprises due to mild average volatility of 10%.

On May 2, the first trading session of the reviewed time period, the market participants saw ACH moving up by 2%. On May 3, the price of the coin has shifted by 3% from the daily open on the back of a good trading volume. During the next trading day, the rate of change in the price of Alchemy Pay stood at 2% having reached the low at $0.03 and the high at $0.03 as the advantage remained on the side of sellers. The ACH market was up as the price shifted by 2% on May 5, against the backdrop of the sufficient trading volume. After the open at $0.03, Alchemy Pay moved during May 6 in the range between the said open and the close at $0.03, having posted the 24H low at $0.03 and the 24H high at $0.03. The activity on the crypto coin's market on May 7 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 $0.0276 and briefly dropped to the daily low at $0.0271. On the last day of the reviewed period, the coin was locked between $0.03 and $0.02, though the price managed to puncture these levels to reach the 24H high at $0.027 and the 24H low at $0.024. $0.02 was the bottom of price action for the week, though the price went to the high extreme at $0.03 over the same time period. Traders saw Alchemy Pay covering the $0.007 distance between the weekly low and the weekly high, which constituted for a 22% move.

Alchemy Pay ’s average trading volume on the opening day of the observed time period, May 2, stood at $18 965 610, while on the closing day of the same period, it moved to $15 233 871. In order to have a better grasp of the ACH market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $16 661 516 to $43 760 547. Percentage-wise, the trading volume of the asset changed by 17%, in comparison to the previous period, while its price experienced a 22% adjustment.

Alchemy Pay had its total market capitalization change from $149 181 536 on May 2 to $131 308 869 on May 8, the end of the examined time frame. ACH experienced a 12% change in total market capitalization throughout the past seven days. The price of the coin changed by 22% on the back of the 12% shift in its total market capitalization. The comparison with the Alchemy Pay market capitalization seen during the time period April 25 - May 1 that occurred before the observed one, which changed by 7%, from $168 275 433 to $156 123 092, allows us to get a clearer understanding of current market conditions.

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Article date: May 8 | May 2 - 8

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