Alchemy Pay slid down by 3% last week (May 8 - May 14) as the sellers pushed back.
The bearish behavior of Alchemy Pay last week was characterized by the occurrence of downswings. ACH has been going through a period of medium volatility, which fell in line with the occurred price changes. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The volatility has been suppressed, as the Alchemy Pay price action suggests. Our comprehensive data indicates that the price change of ACH has been moderate on the back of the average volatility of 11% for the given time period. The coin has hit the highest point of volatility on May 8. The price of the asset had fluctuated the least on May 12, when the volatility plummeted to 0%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 11%.
Alchemy Pay began the day on May 8 at $0.03, while the broad background was bearish. The price of ACH took a 12% down downswing at the open of the weekly trading period. May 9 saw the coin going another 1% since the open, supported by the corresponding trading volume. The cautious traders dominated the price action on May 10, with the Alchemy Pay market remaining flat. On May 12, ACH market moved by 8% in the bearish direction in concert with the trading volume. May 12 kicked off with Alchemy Pay trading opening at $0.02 and then closing the session at $0.02, establishing the 24H low at $0.021 and 24H high at $0.023 in the process. On May 13, the crypto coin showcased the following price fluctuations: the trading session began at $0.02 and then traveled from the low of the day at $0.022 to the high of the day at $0.023, closing at $0.02. May 14 presented us with the following price action data: the coin opened the period at $0.02 and went on to establish the low at $0.022 and the high of the day at $0.024 before closing the day at $0.02. Over the course of all trading sessions, the asset established the weekly low at $0.021 while buyers managed to push the price up to the weekly high at $0.027. The difference between the lowest and the highest price points for the week was 3%, as the price moved in the $0.0008 wide corridor.
The past 7 days were marked by a change in average daily trading volume from $15 233 871 on May 8 to $12 842 098 on May 14. During the week before May 8, the trading volume of ACH flowed from $16 170 076 to $29 677 535. The 2% trading volume fluctuation between May 8 and May 14, as compared with the previous period, served as a basis for a 3% price move.
The change in the total market capitalization of Alchemy Pay from May 8 to May 14 was as follows: on May 8, the capitalization was at $131 308 869, while on May 14, it reached the level of $109 245 622. The percentage change in the total market capitalization of ACH amounted to 17%. The 17% change in the coin's market capitalization affected the price rate that saw a 3% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Alchemy Pay moved by 14% as it went from $156 123 092 to $134 943 910, and gave a better understanding of the general direction in which this market is flowing.