ACH price jumps after the latest Alchemy Pay news
Alchemy Pay (ACH/USD) price continued its recovery after the company continued its partnerships and other cryptocurrencies surged. ACH climbed for the second straight day to peak at $0.033. It’s up ~48% since Friday’s bottom.
Alchemy Pay partnerships continue
Alchemy Pay, a company offering fiat and crypto fintech solutions, has performed well over the past few months. Over the weekend, the company said it had no exposure to Silicon Valley Bank (SVB), which collapsed last week.
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In another statement, the company said it has partnered with ZD Group, a Hong Kong-based company. ZD owns Mouette Securities, a global mutual fund. Through this partnership, Mouette will share its four financial licenses in Hong Kong.
For its part, Alchemy will provide crypto solutions for all of the company’s businesses. This is an important development that will bring Alchemy closer to regulation in the city. In a note, the founder and CEO of ZD Group said:
“ZD Group is closely monitoring global financial trends and opportunities related to Web 3.0 and is actively preparing to obtain relevant business licenses for early entry. Investing in Alchemy Pay is a crucial step in ZD Group’s aggressive engagement in the fintech and web3 industries and trying to capture the trend.”
Alchemy Pay has partnered with several other companies recently. For example, on Friday the company partnered with MathWallet to offer seamless and secure crypto ramp solutions. It has also partnered with MetaLine.
Earlier this year, Visa named Alchemy Pay as one of their service partners. It has also integrated Diners Club and Discover Cards for its fiat crypto purchases.
ACH Price Prediction
ACH chart from TradingView
The ACH crypto price has made a spectacular comeback in the past few days. This rebound happened after the coin formed what looks like a falling wedge pattern, shown in green. It has moved to the 50% Fibonacci retracement level. The coin remains solid above the 50-day exponential moving average (EMA).
Therefore, ACH price is likely to continue higher as investors target the next key resistance level at $0.037, the 38.2% Fibonacci retracement level. A break below the $0.030 support will invalidate the bullish view.