Alchemy Pay’s token rose for three consecutive days as spot and futures market volume surged. Alchemy Pay ( ACH ) coin jumped to a high of $0.03585 on Tuesday, its highest level since Feb. 6. It has gained over 45% from its lowest level this month. ACH’s rally occurred amid a spike in trading volume. According to CoinMarketCap , its 24-hour trading volume rose by 92%, reaching nearly $300 million. Most of this volume was concentrated on centralized exchanges such as Binance, Bybit, and Coinbase. Additional data from CoinGlass shows that the ACH price surge coincided with a sharp increase in futures open interest. Open interest jumped to $60 million, the highest level since Feb. 2. Most of this interest was concentrated on Binance and Bybit. ACH open interest | Source: CoinGlass Futures open interest is an important data that looks at the volume of unfilled orders of futures contracts. It usually rises when there is a sustained demand in the futures market, which accounts for a sizable share in the crypto industry. You might also like: Ethereum still leads in gas fees despite 4-year low in transaction costs There was no immediate Alchemy Pay-related news driving this week’s rally. A possible factor is Alchemy Pay’s participation in Consensus Hong Kong, a major industry gathering featuring leading crypto firms. Investors may be anticipating potential partnerships and deals during the event, leading to speculative buying. Alchemy Pay has established itself as a key player in the crypto payments industry, offering services such as on- and off-ramps, NFT checkouts, and card processing. The company also launched Alchemy Chain, a Layer 1 blockchain network built specifically for the payments sector. Alchemy Pay has formed partnerships with major financial players, including Visa, Mastercard, Apple Pay, and Nuvei. 🌍💡 Hong Kong, are you ready for Consensus HK? 🇭🇰 Visit #AlchemyPay at Booth 3510 on February 19-20 and experience the power of fiat – crypto payments made simple. 🚀 Come connect with our team, learn how we're shaping the future of giat – crypto payments, and grab some… pic.twitter.com/vui8Be0Gae — Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) February 18, 2025 Alchemy Pay has made several headlines in recent weeks. The company recently received approval as a digital currency exchange provider in Australia and integrated the MOVE token into its fiat deposit solution. ACH price analysis Alchemy Pay price chart | Source: crypto.news The daily chart shows that Alchemy Pay’s price has rebounded over the past three days. The rally began after the token bottomed at the 200-day Exponential Moving Average at $0.02590. ACH has since surged above the 50-day moving average and is approaching a key resistance level at $0.0366. Daily trading volume has also continued to increase. Given this momentum, the ACH price is likely to continue rising, with buyers eyeing the next key resistance at $0.040, which was the highest swing level in December and aligns with the top of the trading range in Murrey Math Lines. However, there is a risk that the token could retreat if no major announcements emerge from the Consensus event in Hong Kong. You might also like: Here’s why XRP price turns bullish and set for ‘potential rally’
