- The AMP token price consolidates near the $0.055 level.
- The coin price moves with a bearish alignment of 50, 100, and 200 EMA in the 4-hour technical chart.
- The AMP/BTC pair trades at 0.000001639 BTC with an intraday gain of 0.96%.
AMP Token lost 60% of its value following rejection at $0.073; however, all fall projects have been redeemed by a bull market. For almost a full week, the coin’s price has been experiencing an increase in trading volume. The candle’s long tail formation indicates that buyers are increasing in pressure.
The crypto asset is trading below all crucial EMAs – 50 EMAs, 100 EMA, and 200 EMA. These align in descending orders projecting a bearish mood. Investors might see the token price reach $0.50 as a result.
The pivot points standards (Traditional, Auto) indicate that the coin’s price might support $0.047 to $0.014 if it reverses. After that, the bulls might encounter the $0.10 to $0.12 resistance.
Currently, the AMP token trades at $0.5531. There is an intraday fall (-3.88%) in the market cap. In the last 24 hours, the intraday volume of trading has increased by 38%, which indicates the bearish outlook for the coin as the selling increases.
Bull Run In AMP Token Backed With Booming Bullish Volume
Although the coin price rose above the 20 daily EMA, it failed to surpass the 100 daily EMA. Bulls might have trouble rising higher due to the bearish alignment of all critical EMAs in the daily chart.
The Relative Strength Index Indicator (neutral) indicates a neutral trend as the slope of RSI moves in the neutral zone.
As the price consolidates near the $0.055 mark, the ADX shows a significant loss in trend momentum.
Conclusion – Strong reversal has led to an expanding selling volume range for AMP coin price. Nevertheless, the unique use case of the network with a growing market promises a high probability of growth to the network community in the long run.
Support – $0.047 and $0.014
Resistance – $0.10 and $0.12