The capitulation of May 7 - May 13 : Alchemy Pay experienced a 18% dive.
The price of Alchemy Pay was falling last from May 7 until May 13, giving enough reason to conclude that the market is bearish. The volatility associated with the ACH market was medium, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
Alchemy Pay has been moving reservedly on the backdrop of average volatility. During the reviewed period, the volatility of ACH was in the middle register, averaging at 11%. The volatility of the coin reached its highest point at 12.54% during the observed period. The price of the asset had fluctuated the least on May 11, when the volatility plummeted to 0%. The crypto coin's market didn't put up any surprises due to mild average volatility of 11%.
The trading session on May 7 started with Alchemy Pay opening at $0.03 on the backdrop of bearish sentiment throughout the market. The first day of price action was marked by the 1% move to the downside from the point where the trading session opened. May 8 saw the coin going another 12% since the open, supported by the corresponding trading volume. The price range of Alchemy Pay formed between $0.023 and $0.024 on May 9 as the price traveled 1% down. On May 10, the value of ACH was in the range, with the market remaining flat. The developments on the Alchemy Pay market on May 11 started with the price opening at $0.02 and subsequently moving to $0.02, the close of the day, while dropping to the 24H low at $0.022 and spiking to the 24H high at $0.022. The activity on the crypto coin's market on May 12 resulted in the asset being traded between $0.02, the open of the day, and $0.02, the close of the day; at some point, the price spiked to the daily high at $0.023 and briefly dropped to the daily low at $0.021. On the last day of the reviewed period, the coin was locked between $0.02 and $0.02, though the price managed to puncture these levels to reach the 24H high at $0.023 and the 24H low at $0.022. During the reviewed time period, the asset was able to achieve the weekly high at $0.028, though at a certain point, the bear pressurized the price down to the weekly low at $0.021. As a result of price action within the designated time period, the price movement range on the Alchemy Pay market was established at $0.005 or 18% between the weekly low and the weekly high.
The past 7 days were marked by a change in average daily trading volume from $23 047 856 on May 7 to $17 434 013 on May 13. 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 $16 170 076 to $29 677 535. The asset demonstrated an 14% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 18%.
The past week saw the market capitalization of Alchemy Pay making a shift from $134 943 910 on May 7 to $112 741 688 on May 13, the peak for the analyzed period. Percentage-wise, the market capitalization of ACH has shifted by 16% in the past week. The said 16% percentage change in market capitalization of the coin was accompanied by the 18% fluctuation in the price of the underlying asset. Alchemy Pay ’s market capitalization from the week before changed by 9%, as the result of fluctuation between $162 843 750 and $134 943 910, to give a clearer vision of the current state of the market.