- AMP token is trading close to the Demand zone and is expected to bounce.
- AMP price currently is below all the significant 50,100 and 200 day moving averages. Bulls will try hard to push from here.
- AMP/BTC is trading at 0.00000110 BTC with an intraday change of +0.92% while AMP/ETH is trading at 0.00001591 ETH accounting an intraday profit of 3.65%.
The AMP token is currently trading below all the significant moving averages of 50,100 and 200, this shows the scene is in favour of the bears. But, we may witness a flip of the scene if the price manages to break the immediate moving average of 200 which is just above the current trading price of AMP coin. Above it are the 50 and 100 day moving averages which will play as support in the future.
The Relative Strength Index (RSI) is below the normal zone making a move up just touching the overbought area. This is where we might see some buying interest among the traders. The RSI line is expected to breach the normal zone thereby driving the price of AMP coin up.
The Moving Average Convergence Divergence (MACD) is indicating a bearish momentum for the time being. Both the MACD line and the Signal line are below the Zero line. But, the MACD line is expected to cross the Signal line shifting the momentum with a bit of more volume in the near future.
The Fibonacci indicator is suggesting a very crucial support at the $0.0377 price level. If the price anyhow goes below this support, we might witness a crash in the AMP price but this is highly unlikely at the moment. The $0.05 price level is the immediate resistance indicated by the Fibonacci. If the price breaks this level with volume, we might see AMP touch the $0.057, $0.063 levels.
NOTE: The moving average 50,100 and 200 are in colour Yellow, White and Red.
The MACD line is coloured Blue and the Signal line is coloured Red.
The important support and resistance levels to keep an eye on are:
SUPPORT: $0.0377
RESISTANCE: $0.05, $0.057, $0.063
TAKEAWAY: Keeping the technicals in mind, we might see AMP token surge if it manages to break the important resistance levels mentioned above. AMP token is currently in the demand zone and the price is likely expected to move up in the days to come.